The economics of the AI build-out
Can a real technology shift still be a poor investment for those financing it?
Reuters reports S&P warning that top hyperscalers likely carry more AI-linked debt than is publicly known.
Unconfirmed- Top Hyperscalers Likely to Have More AI-Linked Debt Than Now Known, S&P Global Warns Reuters via U.S. News
S&P Global Ratings projects capital spending by six hyperscalers (Alphabet, Amazon, Microsoft, Meta, Oracle, SpaceX) will exceed $1.3 trillion by 2027, with all six expected to have negative free operating cash flow in 2026 and 2027.
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