AI Companies Are Trying to Hide a Staggering Amount of Debt

# Summary Five major US tech companies—Alphabet, Microsoft, Amazon, Meta, and Oracle—are concealing an estimated $1.65 trillion in debt through off-balance-sheet accounting arrangements, more than the $1.35 trillion they officially reported, according to an investigation by Nikkei Asia. This practice, which resembles the accounting methods that led to energy company Enron's collapse, raises concerns about whether the AI industry's massive investments in data centers are sustainable or part of an inflated bubble. Experts warn that if these companies cannot generate sufficient demand to justify their spending, they may become vulnerable to collapse, especially as they dilute equity by issuing new shares to fund their operations.