Investors rushed to buy both AI and gold
Something unique started happening in August. Investors simultaneously started aggressively buying AI companies, gold, and even Bitcoin.
What’s the connection here?
It’s actually a very unusual one. To build AI data centers, the biggest tech companies are spending hundreds of billions of dollars.
They need money for that. A lot of money. Which they keep borrowing in the market. In 2026 alone, their spending could approach $700 billion.
And the problem is that the U.S. government is borrowing money in exactly the same way. And the more they borrow, the higher the interest rate they have to offer on that debt.
But in August, the Treasury stepped in. And increased its buybacks of its own bonds to bring that very rate down.
Investors immediately understood:
Debt is becoming too expensive, and now the government will be looking for ways to make it cheaper.
And the more interventions like this we see, the stronger the fear that the dollar will lose value. That’s why some of the money is moving into gold and Bitcoin.
Which, as a result, saw inflows of $7 billion in just 5 days.
At the same time, no one is giving up on AI either. Nvidia keeps climbing, and money is still flowing into tech funds.
The market is now simultaneously buying AI as a bet that technology will make the world richer, while also buying gold and Bitcoin as insurance in case the bill for this party turns out to be too big and the system can’t handle it.
Something unique started happening in August. Investors simultaneously started aggressively buying AI companies, gold, and even Bitcoin.
What’s the connection here?
It’s actually a very unusual one. To build AI data centers, the biggest tech companies are spending hundreds of billions of dollars.
They need money for that. A lot of money. Which they keep borrowing in the market. In 2026 alone, their spending could approach $700 billion.
And the problem is that the U.S. government is borrowing money in exactly the same way. And the more they borrow, the higher the interest rate they have to offer on that debt.
But in August, the Treasury stepped in. And increased its buybacks of its own bonds to bring that very rate down.
Investors immediately understood:
Debt is becoming too expensive, and now the government will be looking for ways to make it cheaper.
And the more interventions like this we see, the stronger the fear that the dollar will lose value. That’s why some of the money is moving into gold and Bitcoin.
Which, as a result, saw inflows of $7 billion in just 5 days.
At the same time, no one is giving up on AI either. Nvidia keeps climbing, and money is still flowing into tech funds.
The market is now simultaneously buying AI as a bet that technology will make the world richer, while also buying gold and Bitcoin as insurance in case the bill for this party turns out to be too big and the system can’t handle it.