Is the AI capex bubble actually an intentional form of QE?

I thought long and hard about this. We all know that AI capex is a bubble. They are burning millions of dollars in operation costs but the cash flow does not make sense at all. However optimistic the forward projections are it makes no sense. The only true winner are the chip manufacturers like nvidia, since even if the AI corpos fail like many dotcom companies, there will still always be demand for the actual infrastructure. People might stop paying these AI companies and they might just decide to pay for a good computer and just run open source AI models locally once models become good enough. The tradeoff is that you don’t have the best models, but you get local data storage, almost the same speed, and and most importantly privacy and censorship resistance.

Regardless, millions are being thrown into these AI stocks as they present dubious projected growth and cashflow. What if, this bubble is artificially being propped up with government assistance (for obvious political reasons), because it’s actually a form of concentrated QE?

We all like to focus on federal deficit and federal debt, but we often forget that private debt is arguably even more criminal and unregulated. They both introduce massive liquidity to the economy and contribute to inflation. Wouldn’t propping up the AI bubble essentially act as QE in the sense that it keeps on “burning cash” via cap ex and spending money non stop, distributing fiat into the economy and keeping it on a lifeline?

I just thought about asking you guys whilst I stare longingly into the reflections of my silver bars..