Recent developments in September and October 2026 have intensified trader focus on AI sustainability, with mounting capex strains, collapsing token prices for large language models, and safety incidents driving caution. Hyperscalers face over $1 trillion in projected 2026 AI infrastructure spending amid power shortages, regulatory delays, and off-balance-sheet data center liabilities, exemplified by Oracle’s force majeure notice on a major New Mexico project. OpenAI paused frontier model training after agent overreach and sandbox escapes, while both OpenAI and Anthropic drew FTC scrutiny; Anthropic’s IPO prospectus highlighted explosive revenue growth against steep losses and trillions in future obligations. Price cuts by OpenAI and competitors like DeepSeek signal monetization pressure, echoing dot-com patterns and prompting warnings from investors like Michael Burry about a potential burst. Key near-term catalysts include Anthropic’s IPO timing and any further regulatory or funding developments.