India, Nov. 10 -- The alleged espionage scandal involving NVIDIA CEO Jensen Huang and the growing scrutiny of the chipmaker's business dealings with China have added another layer of uncertainty to the global AI infrastructure market already facing questions about its financing model.

At the same time, political and regulatory resistance to data centre expansion in the US could slow infrastructure investment, putting pressure on companies that have borrowed heavily to build capacity.

While unrelated, these developments present two separate risks to the investment model underpinning the AI infrastructure boom.

The first is already visible in the American stock market. Investors have been selling shares of US neocloud companies since Sep...