Big Tech has committed $7.6 trillion to AI infrastructure through 2031. The market is now demanding evidence that customers will actually pay for it.

Evidence For

• US stock futures resumed declines Friday as AI concerns stalled the tech rally, tracking sharp drops across Asian markets where South Korea's KOSPI triggered a 20-minute trading halt. (Bloomberg)
• The sell-off erased more than $1 trillion from the Nasdaq 100 in a single session. The Philadelphia...