Jason Thomas, head of global research and investment strategy at Carlyle, discussed the risks facing private credit firms as they fund the AI boom. The firm has issued warnings about how the current wave of AI financing could expose private credit lenders to concentrated risk and potential losses if valuations correct or growth slows. Thomas outlined Carlyle's concerns about the sustainability of current AI investment levels and the dangers of overleveraged positions in the sector.
The discussion covered how private credit—which has grown significantly as an alternative to traditional bank lending—is becoming increasingly exposed to AI startups and infrastructure plays. Carlyle's warning signals caution in a market where capital is flowing rapidly into AI companies, many of which remain unprofitable or have unproven business models.
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