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Top Hyperscalers Face Hidden AI Debt Risks, S&P Global Warns
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CNBC TV18•19-10-2026, 23:15
Top Hyperscalers Face Hidden AI Debt Risks, S&P Global Warns
  • •S&P Global estimates that the world's biggest tech firms have more AI-linked liabilities than currently disclosed.
  • •Concerns surround interconnected financing structures where hyperscalers guarantee massive data center builds and smaller AI companies.
  • •S&P expects the top six US hyperscalers to spend over $7 trillion on AI-related capital expenditures between 2025 and 2030.
  • •Despite hidden debt concerns, S&P currently sees no immediate need to change credit ratings for these major tech firms.
Read Full Article on CNBC TV18 in English

Key Questions Answered

S&P Global estimates that the world's largest tech firms carry more AI-linked liabilities than currently disclosed, driven by interconnected financing structures and data center guarantees. While top analysts see no immediate need to alter credit ratings, they warn that unreported debt and off-balance-sheet arrangements obscure the true financial risk.

S&P Global projects that the top six US hyperscalers—Amazon, Microsoft, Alphabet, Oracle, Meta, and SpaceX—will spend more than $7 trillion on data centers and AI capital expenditures between 2025 and 2030.

S&P downgraded Oracle to BBB-, the lowest tier of investment grade, back in July due to concerns over its heavy AI spending and an uncertain path to profitability.

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