Matthew FieldJun 29, 2026 – 6.51amLondon | Debt-fuelled spending on AI is driving up the risk of a global financial crisis, central bankers have warned.The Bank for International Settlements (BIS) said on Sunday (Monday AEST) that “excessive” spending on new AI data centres and opaque transactions risked a financial meltdown similar to the global credit crunch nearly two decades ago.The Telegraph LondonSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles