Valuing the AI Economy with Christian Leuz

As the artificial intelligence infrastructure boom shifts the global economy from "asset-light" software to "asset-heavy" physical expansion, corporate balance sheets are telling a complex story. In this episode, we sit down with Christian Leuz (University of Chicago, Booth School of Business) to break down the accounting realities behind the multi-trillion-dollar AI buildout. From capitalized leases and stock-based compensation to depreciation timelines and long-run economic profits, we explore what financial statements actually reveal and conceal about the future of AI.