Affirm’s CEO says the market is betting AI spending stops, and that bet is wrong | Sozzi Unleashed
Max Levchin came into the studio the morning after the worst session since 2025, with his own quarter just printed, and told Brian Sozzi the market has been running a will-they-won’t-they trade on AI capital spending. The current bet is that they won’t. He thinks that is wrong, and he says so while accepting that the objections to data centers, the noise and the power and the neighborhoods, are real.
He also walks through the model Affirm trained on its own credit data to find borrowers its older models declined, why explainability is a legal requirement and not a nicety, and what agentic shopping does to demand for credit.
Featuring
Max Levchin, Co-founder and Chief Executive Officer, Affirm
Full episode: https://youtube.com/live/IQxX-wI-5UM
Timestamps
0:00 What in the world is happening in markets
1:44 Why he calls this a profoundly important moment in tech
3:03 The data center argument, and what he says is at the other end of it
4:20 Why he will not call the frontier labs overvalued
5:22 How credit used to be decided, and what replaced it
7:20 Looking for the borrowers the old models turned away
8:47 What agentic shopping does to demand for credit
10:29 Whether he is bullish on the holiday season
#Affirm #MaxLevchin #AICapex #Fintech #SozziUnleashed #YahooFinance
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