The Carlyle GroupArticle
Bursting the Bubble in the AI Debate
Jason Thomas argues that major tech companies have shifted from asset-light to capital-intensive models due to AI infrastructure investment, yet retain valuations built on the old model. He contends that when these companies acquire $100 million in data-center assets, shareholders are effectively asked to pay far more at current price-to-book ratios.
Subscription required
Read the full report at The Carlyle GroupPublished by The Carlyle Group. Global Real Estate Intelligence links to the original source and credits the publisher; all rights remain with them.
Provenance
- Publisher
- The Carlyle Group
- Obtained from
- The Carlyle Group
- Published
- Dec 9, 2025
- Last updated
- Jun 28, 2026 (1 month ago)
Global Real Estate Intelligence records where every item came from and when we last refreshed it. Where a field reads Unknown we could not establish it, and we do not guess.
