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"CoreWeave's debt-fueled growth highlights a broader trend in the Al infrastructure boom, where heavy leverage, hardware-collateralized lending, and risky financing structures create systemic vulnerabilities." - GQG Research (Opening Takeaways) [Page 1]
"Debt issuance for data centers surged to $183B in 2025, up from $92B the previous year... aggressively loading up the ecosystem with debt." -…