According to CoinMeta, Bank of America (Bank of America) warns that the current AI investment boom is showing signs of classic capital cycle risks, including surging spending, intensified competition, and falling prices. The capital expenditure expectations for ultra-large enterprises have soared from $330 billion to $1 trillion, accounting for about 3% of the US GDP. Meanwhile, the price of AI tokens has fallen by about 50% since summer, raising concerns that the growing usage may not translate into sufficient revenue. The key risk is that although AI technology may be successful, investors could suffer losses due to over-investment and declining returns.