As Wall Street drives an unprecedented AI spending frenzy, concerns about debt and potential market consequences rise sharply. Major tech firms are pouring billions into AI infrastructure, leading to record bond issuance forecasts of $1.8 trillion. Amid this investment boom, traders are bracing for risks, with reports indicating that AI-related credit default swaps are spiking, making some AI companies seem riskier than banks were before the 2008 financial crisis. Financial institutions are scrambling to hedge against growing default risks while exploring innovative funding solutions to support their ambitious projects. Analysts warn that this debt-driven spree may signal the onset of a new phase of financial mania reminiscent of past economic bubbles. With the stakes high and the capital markets adapting rapidly, both investors and businesses are urged to remain vigilant as the landscape evolves.