Keep pulling the thread on Ed Zitron.
A Nikkei Asia investigation found that Alphabet, Microsoft, Amazon, Meta, and Oracle are carrying approximately $1.65 trillion in off-balance sheet debt.
Meta's off-balance sheet debt is approximately three times its reported debt.
Oracle's off-balance sheet debt has grown by about 30-fold in the last four years.
AI data center Special Purpose Vehicles (SPVs) are the modern equivalent of the Collateralized Debt Obligations (CDOs) that caused the 2008 financial crisis and will cause genuine harm to the markets.
Private credit funds, which finance AI data center SPVs, are heavily funded by pensions, retirement funds, and insurance funds.
The financial viability of the current AI data center buildout is dependent on AI compute demand increasing by 15 times or more.
Blue Owl committed to investing up to $10 billion in the Stargate Abilene data center project after only a 10-minute review.
If all 130 gigawatts of planned AI data center IT load are built, it will require $1.68 trillion in annual compute revenue to be financially viable.
In its most recent quarter, Tesla's revenue increased by approximately 26% year-over-year while profits fell 5% over the same period.
Tesla reported a negative free cash flow of approximately $1.1 billion for its most recent quarter.
Most of the key engineering talent responsible for Tesla's past successes have left the company.
In its latest quarter, Google's revenue grew 24% year-over-year to nearly $120 billion, and its net income quadrupled to $112 billion.