AI CapEx-to-Revenue Gap Analyzer

Stress-tests the September 2026 'Smothering Heights' bubble thesis by quantifying the gap between hyperscaler AI capital expenditure and monetized AI revenue. Reconciles Big Tech's $405B AI capex run-rate (now ~93% of hyperscaler CFO, up from 33% in 2023) against booked AI revenue, benchmarks the ~46% capex-vs-sales growth divergence against the 32% telecom excess of 2001, decomposes revenue coverage by segment (Azure AI, Google Cloud AI, AWS Bedrock, Meta ad-lift attribution), and produces a bubble-risk memo with kill-switch triggers, hedging structures, and pair-trade recommendations.