The pressure board.
Is the AI economy overheating? This report will not answer with a number — a composite "bubble index" is editorial weights wearing objectivity's clothes, and this site does not manufacture data. What it does instead is put every dial this site computes on one board: filed capital spending accelerating, training compute doubling in under six months, 2,363 gigawatts standing in a queue that history clears at 14.8 cents on the dollar, a build rate at its modern record and still short of the high case, and a money loop in which none of the twenty-one publicly claimed mega-deals traces to a filing. Every dial is fetched live from this site's own rates at the moment you load the page. The dials disagree — and the disagreement is the finding.
published 2026-08-29 · dials fetched LIVE from /rates at render — this page cannot disagree with the site · edition 1 — updated only by a new dated edition · sources: as each dial states
Every dial, one glance, no verdict number.
Each card is a rate this site computes and guards — tap any card to open the report it was computed in. MEASURED dials are history; the one PROJECTED dial keeps its published floor and ceiling; the CURATED dial says who curated it. Three rails: the money, the machine, the people.
Where the dials argue.
A board is a list; pressure lives where dials collide. Money against receipts: filed capex grew 65% in a year while zero of twenty-one claimed mega-deals trace to a filing. Demand against the machine: the projected data-center wedge spans 17–46 GW while the best build year in the modern record delivered 57 — once, at full stretch, for everything. Ambition against the queue: 890 GW entered the line in one year against a measured completion rate of 14.8%.
Why there is no number.
The refusal, stated. A composite index needs weights, and every weight is an argument: is a doubling time worth more than a completion rate? Is curated worth less than filed? Whoever sets the weights sets the verdict, and the number then travels without its arguments. This site's law is that a reader can follow every figure to its record; a composite's record is a committee. So the board shows the dials and keeps the arguing visible.
Where the dials come from. Every card is fetched from /rates/index.json at the moment the page renders — the same build-guarded figures the rates surface carries, each computed from a named field in a report's records and refused at build if the fit and the file disagree. This page holds no copy of any number.
What the board is not. Not a forecast — every measured dial ends at its record's last row. Not a verdict — the projected wedge keeps its published floor and ceiling, and the curated ledger says curated. Not complete by scope — this board asks ONE question, the AI economy's, so rates that answer other questions (warming, debt, solar, quakes, fertility, conflict) are not dials here; all sixteen live at /rates. A dial the site does not compute is never on any board.