AI euphoria is giving way to something else. The industry that once looked unstoppable is starting to bleed from a thousand tiny cuts. Short sellers like Michael Burry and Jim Chanos are circling, warning that the AI buildout isn’t a one-time investment but a recurring cost wave. And now debt is quietly taking over as the fuel of the boom. Loans, bonds, and securitized financing are propping up an AI infrastructure race that shows no sign of slowing. In this Take, CNBC’s Deirdre Bosa breaks down the new signals investors are watching, the rising risks behind the spending, and what founders like Amjad Masad of Replit and Navrina Singh of Credo AI see from inside the cycle. Chapters: 0:00 Introduction 1:06 - 4:22 Chapter 1: Warnings from skeptics 4:22 - 21:21 Chapter 2: Full interview with Replit CEO 21:21 - 31:39 Chapter 3: Full interview with Credo AI CEO Anchor: Deirdre Bosa Producer: Jasmine Wu, Drew Troast, Laura Batchelor Editor: Magdalena Petrova Senior Director of Video: Jeniece Pettitt Additional edits: Julie Trass Camera: Jacob Jimenez and Cary Patton » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Watch CNBC on the go with CNBC+: https://www.cnbc.com/WatchCNBCPlus About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Want to level up your AI skills? Sign up for Smarter by CNBC Make It's new online course, How To Use AI To Communicate Better At Work. Get specific prompts to optimize emails, memos and presentations for tone, context and audience. Sign up today: https://cnb.cx/47ELu8O Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC on Threads: https://cnb.cx/threads Follow CNBC News on X: https://cnb.cx/FollowCNBC Follow CNBC on WhatsApp: https://cnb.cx/WhatsAppCNBC #cnbc AI Bubble Anxiety On The Rise: Two AI CEOs Weigh In

Subsea fiber-optic cables are the world’s information superhighways with over 95% of the world’s international data traveling through them. This not only includes email, video calls, and streaming but also financial transactions and government communications. Tech giants including Google, Amazon, Meta and Microsoft are heavily investing in building subsea cable infrastructure to service their AI demands and connect their growing network of data centers. Because of the importance of this infrastructure however, subsea cables have become the targets of suspected sabotage. To understand how subsea cables work, CNBC visited Alcatel Submarine Networks subsea cable manufacturing facilities in Calais, France and Greenwich, England. We also spoke to government officials and tech giants to find out why subsea cables are crucial to keeping us connected and what we can do to protect this critical infrastructure. Chapters: 0:00 - 3:02 Introduction 3:02 - 4:45 How do subsea cables work? 4:45 - 7:30 Increasing demand 7:30 - 13:05 Manufacturing and installation 13:05 - 22:08 Cable cuts and grey-zone tactics Produced and Shot by: Magdalena Petrova Camera and Editing: Erin Black Animation: Jason Reginato, Mallory Brangan Senior Director of Video: Jeniece Pettitt Additional Editing: Nic Golden Henry Additional Camera: Benjamin Hall Additional Footage: ASN, Getty Images, Google, Reuters » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Watch CNBC on the go with CNBC+: https://www.cnbc.com/WatchCNBCPlus About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Want to level up your AI skills? Sign up for Smarter by CNBC Make It's new online course, How To Use AI To Communicate Better At Work. Get specific prompts to optimize emails, memos and presentations for tone, context and audience. Sign up today: https://cnb.cx/47ELu8O Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC on Threads: https://cnb.cx/threads Follow CNBC News on X: https://cnb.cx/FollowCNBC Follow CNBC on WhatsApp: https://cnb.cx/WhatsAppCNBC #CNBC How A Million Miles Of Undersea Cables Power The Internet — And Now AI

At ThredUp's 600,000-square-foot warehouse in Suwanee, Georgia, roughly 40,000 pieces of used clothing are processed each day. The resale company's logistics network, four facilities across the U.S., now rivals that of some fast-fashion giants. The global secondhand apparel market is expected to reach $367 billion by 2029, growing almost three times faster than the overall global apparel market. For years, Gen Z shoppers have been driving the rise of secondhand fashion. Now, rising prices and new tariffs announced by the White House earlier this year are pushing even more Americans to follow their lead. CNBC got a behind-the-scenes look at ThredUp’s operations to learn more about how new AI tools and tariffs are boosting America’s secondhand market. 00:00 Introduction 1:44 ThredUp's resale machine 3:24 When tariffs hit fashion 5:33 AI and the future of shopping Produced, shot and edited by: Lisa Setyon Edited by: Andrea Miller Narration: Ryan Baker Animation: Emily Park Additional Camera: Jeffrey Moustache Senior Director of Video: Jeniece Pettitt » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Watch CNBC on the go with CNBC+: https://www.cnbc.com/WatchCNBCPlus About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Want to level up your AI skills? Sign up for Smarter by CNBC Make It's new online course, How To Use AI To Communicate Better At Work. Get specific prompts to optimize emails, memos and presentations for tone, context and audience. Sign up today: https://cnb.cx/47ELu8O Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC on Threads: https://cnb.cx/threads Follow CNBC News on X: https://cnb.cx/FollowCNBC Follow CNBC on WhatsApp: https://cnb.cx/WhatsAppCNBC #CNBC AI, Tariffs And The Unexpected Rise Of Secondhand Fashion