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Opacity in AI Funding Sends Hidden Debt at America's Top 5 Tech Companies Soaring to $1.65 Trillion

·2026.07.21 12:56

Key point

As AI investment expands, off-balance-sheet debt at major US Big Tech companies has surged to roughly $1.65 trillion.

Details

According to a Nikkei investigation, as AI infrastructure investment surges, off-balance-sheet debt at 5 major US tech companies has increased roughly 8-fold over the past 4 years, reaching $1.65 trillion.

Key points are as follows:

  • Cause of the debt surge: Debt related to data center leases and GPU supply agreements is the main driver.
  • Meta's case: Meta's off-balance-sheet debt stands at approximately $420 billion, nearly 3 times its disclosed debt level.
  • Risk management concerns: This opaque debt structure is making it difficult for investors to accurately assess companies' actual financial risk.

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