About this ebook
The AI Capital War is not another book claiming that artificial intelligence is fake. It begins from the opposite premise: AI is already changing work, software, data centers, chip demand, electricity use, and capital markets.
But a real technology can still carry an unreal price.
This book follows the money behind the AI boom. It treats GPUs as fixed capital, not magic. It asks whether AI revenue comes from independent customer cash or from capital moving in a loop. It examines data centers not as server rooms, but as financial assets built on power, leases, private credit, collateral, and refinancing risk.
The central question is cold:
What happens when future AI value is pulled into today’s revenue, today’s valuation, today’s collateral, and today’s debt?
Inside the book:
- Why real technologies can create the most convincing bubbles
- How GPU purchases become depreciation, collateral, and refinancing pressure
- Why data-center finance may hide risk outside traditional bank balance sheets
- How AI fetishism makes intelligence visible while hiding labor, electricity, debt, and infrastructure
- Why Korea is a stress test for supply-chain nations in the AI capital war
- How to think about B_t — survival runway — before the future is repriced
Technology promised the future. Capital borrowed against it too early. The reckoning begins when that collateral is questioned.
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About the author
Hong Ki Park is a Korean author, economic commentator, and researcher specializing in macroeconomics, financial markets, real estate, and structural economic change.
He has spent many years studying credit cycles, financial crises, demographic change, housing markets, and the interaction between technology and capital. His work focuses on explaining complex economic systems in language accessible to general readers while maintaining analytical depth.
Park is the author of The Complex Recession and The AI Capital War, where he examines artificial intelligence, capital expenditure, financial accounting, private credit, data centers, and the long-term structural transformation of the global economy.
Rather than offering short-term investment predictions, his books emphasize historical patterns, balance-sheet analysis, financial stability, and long-term survival strategies for individuals, businesses, and nations.
His goal is to help readers understand how technological revolutions reshape capital markets, society, and everyday life.
