Nine top tech companies had some $3 trillion of off-balance-sheet commitments mostly related to AI, according to a Wall Street Journal analysis of footnotes in their most recent securities filings. Those obligations are growing faster than traditional “capex,” which totaled about $600 billion over the past year they reported, and were about triple what the companies owe under their outstanding leases and long-term borrowings.
https://www.wsj.com/tech/ai/why-big-techs-ai-spending-is-3-trillion-higher-than-it-seems-e1067bb2
Keep this on your radar. Hope this doesn't turn out to be the next collateral debt obligations...just saying..
FYI @everyone
The Wall Street Journal
Why Big Tech’s AI Spending Is $3 Trillion Higher Than It Seems
Massive spending commitments for data-center leases and chips aren’t shown on companies’ balance sheets.
1August 18, 2026 590 1
