Hyperscalers are significantly increasing investments in artificial intelligence infrastructure, betting on breakthroughs toward Artificial General Intelligence (AGI) and the singularity. OpenAI's development of the new LLM model Astra is viewed by some as a potential early sign of AGI, though skepticism persists among critics. This surge in AI capital expenditure is risky because it hinges on achieving singularity, which has vast implications for the US economy and the S&P 500. Investors should be cautious as the AI trade depends heavily on uncertain technological milestones.