Ha ha, a number of Big Tech firms have moved around $120bn of debt being used to build AI-focussed data centres off their balance sheets into special purpose vehicles (SPVs) funded by banks & other investors.
Why would they do that?
Well, one key reason would be it (at least partly) inoculates them from any coming AI-related financial crisis - leaving the risk of default with the SPVs if the bubble bursts & AI-related income fails to cover debt payments!
#BigTech #AI #FinancialCrisis
h/t FT
