- Hidden debt at five US tech giants has soared to $1.65 trillion, roughly eight times higher than four years ago, driven by opaque AI funding.
- Data center leases and GPU supply contracts are primary sources of off-balance-sheet liabilities, as shown in a Nikkei study.
- Meta's off-balance-sheet debt is about $420 billion, nearly triple its transparent debt, highlighting the scale of hidden obligations.
- The growing hidden debt exceeds actual debt, making it more difficult for investors to assess financial risk.