Sial, Farwa and Chandrasekhar, C P <br/><br/>
Militarised AI, private credit, and Iran war 

 - Economic & Political Weekly   
 - 61(15), Apr 11, 2026: p.10-12 
<br/><br/> Private credit markets are showing signs of stress, with multiple major funds restricting withdrawals as investors struggle to exit illiquid holdings. The fears of investors are driven by the success of AI, which, while driven by enormous capital spending financed in part by private credit, is perceived as disrupting the pre-existing software landscape. These dynamics are increasingly tied to military demand, with the US government encouraging private capital to build defence-linked AI infrastructure. The war on Iran is amplifying these trends by accelerating a shift wherein AI investment becomes less market-driven and more concentrated around state-backed priorities.-Reproduced <br/><br/>https://www.epw.in/journal/2026/15/h-t-parekh-finance-column/militarised-ai-private-credit-and-iran-war.html<br/>