The pot is not just reaching boiling point: if the Financial Times (see below) are worried, the water's been superheated in a microwave, and is just waiting for the spoon to go in and spoil the equilibrium.

Meta to sell $30B in bonds to build AI datacenters

Zuckcorp will gladly pay you in 2065 for the eyewatering sums it is borrowing today

Even the world's richest companies need outside help to fulfill their datacenter dreams. Now, Meta is selling $30 billion in bonds to build out its infrastructure estate and support its ambition in AI markets. Some of these won't mature for 40 years. [...]

From the Comments:

[...] Bond sales are usually the last step in the tits up process.

.... which got the reply:

When even the FT are questioning when the AI bubble will burst (31/10 Alphaville column for those interested) it would seem that doom is upon those throwing money at such things. [...]

And separately, the wise observations:

The rising trade in credit default swaps has the very definite odour of 2007-8.

Easy to forget the next cab off the rank after "too big to fail" is "too big to rescue."

"*Boom*," said Ivanova.