Here's something worth thinking about: the AI boom powering US economic growth right now has a dependency problem. It's not just about innovation—it's about capital. These massive AI infrastructure investments? They're running on fumes from credit markets. The numbers keep climbing, but so do the financing needs.

Utilities are sitting at the center of this. They're major borrowers right now, funding everything from power generation to grid upgrades for data centers. When credit tightens, these sectors feel it first. And when utilities struggle to finance, the whole chain reaction starts—energy costs spike, infrastructure lags, and suddenly AI expansion hits friction.

For anyone watching markets, this is the under-the-hood story nobody's talking about. The AI narrative is sexy, but the credit story? That's where things get real. Keep an eye on lending spreads and utility bond yields. They're telling you whether this boom can actually sustain itself or if we're running on borrowed time.