Firehose

Five major US tech giants, including Alphabet, Microsoft, Amazon, Meta, and Oracle, are hiding an estimated $1.65 trillion in debt off their balance sheets, with Meta alone having amassed around $420 billion in such debt, highlighting the precarious state of the AI industry's investment in AI. This debt is being concealed through special purpose vehicles, such as legally distinct subsidiaries, to make financial reporting appear healthier than it actually is. Experts warn of an AI bubble, citing the enormous gap between company valuations and profits. AI summary