"Oracle (ORCL) is the first canary in the coal mine" to David Trainer's AI bear case, followed by Meta Platforms (META) and other Mag 7 names committing hundreds of billions to CapEx. He adds, "spending isn't going to end any time soon," arguing these companies need to show a stronger road map to profitability. David also points out risks to jobs and rising monopolistic concerns are other headwinds facing the AI trade.