Big Tech hides $1.65 trillion in AI debt off its balance sheets - more than its total reported debt - using legal structures regulators still allow.
  • heartSagan5@lemmy.zipEnglish
    10 minutes

    This shit led to the Great Depression… I guess it’ll be a Greater Depression, just on figures alone.

  • Jaysyn@lemmy.worldEnglish
    1 hour

    This is why they want to get into your 401(k)s & pension funds. Don’t let them.

  • beegnyoshi@lemmy.zipEnglish
    19 minutes

    140 + 100 + 180 + 100 + 30 does not equal 1350. Not even close. Impossible to put any kind of trust in AI slop

  • iocase@lemmy.zipEnglish
    2 hours

    Oh boy I can’t wait to see the future of every person under 65 and with a net worth below $100 million get basically vaporized from space. I can’t wait to be the bailout source for this… Although I don’t think there’s enough money in existence to bail this one out.

    • DarkCloud@lemmy.worldEnglish
      2 hours

      Don’t even talk about bailouts, it’s totally unacceptable this time. These companies ARE NOT essential, and are not too big to fail.

      Their debts are by Venture Capitalist investors, and by billionaires from the dot com bom. They have the money to fail.

      This time we let them fail.

      I WANT TO SEE REPO MEN AND BANK OFFICIALS MARCHING INTO MANSIONS TO RECLAIM THE MONEY.

      Let some of these assholes live in trailer parks.

      • Lost_My_Mind@lemmy.worldEnglish
        37 minutes

        Wait…too big to fail meant that they’re supposed to be important to the CITIZENS??? Fuck that! All these banks and mortgage lenders and automotive industry leaders have all been bailed out as too big to fail.

        I never took that to mean that they provide value. I just took it to mean “fuck you peasants, we’re big business, and therefore fuck you! Money please! Money me now!”

        If I’d have known they meant it was for OUR benefit, I’d have called bullshit 20 years ago.

      • Asafum@lemmy.worldEnglish
        2 hours

        The issue is that they became part of everyone’s 401k so the bootlickers and greedy fucks in Congress will tell us they’re 100% essential because if they fail you lose your retirement.

        I hate this system… Redistribution of wealth for the rich, rugged individualism for the pleb.

        • moustachio@lemmy.worldEnglish
          1 hour

          They aren’t even public companies yet. They are not a part of everyone’s 401ks.

          MS, AMZN, Oracle, & NVDA were around before this, and will exist even when the bubble pops. Literally zero reason for a bailout.

    • Rioting Pacifist@lemmy.worldEnglish
      1 hour

      It’s fine SpaceX is pretending to be an AI company (the home of MechaHitler) so won’t have the pennies left to gets it’s space Vaporizing Centers launched (honestly more feasible than data centers).

      🤞maybe this can all end with Saudis releasing footage of Elon moonwalking when the realize there’s no money left for the line due to Twitter.

    • UnderpantsWeevil@lemmy.worldEnglish
      2 hours

      with a net worth below $100 million

      Far fewer than you’d think, once hyperinflation kicks in.

      You’ll be lucky if you can buy gum for less than $100M at the rate we’re climbing.

      • EvergreenGuru@lemmy.worldEnglish
        2 hours

        I am selling a used piece of gum for cheap: only $50 million! Buy now while supplies last.

        • Lost_My_Mind@lemmy.worldEnglish
          28 minutes

          Well now hang on. Lets not get ahead of ourselves here. We have discuss some core primary facts about this gum before we can determine value.

          First off, what brand gum? How much flavor is left? Does it still have enough consistant texture to blow bubbles? You can’t just leave these things up in the air.

          • No1@aussie.zoneEnglish
            2 minutes

            Don’t worry about that.

            I’ll lend you the $50M for the gum if you agree to buy $50M of my stuff in the future.

  • nao@sh.itjust.worksEnglish
    2 hours

    Would be interesting to include anthropic, openai etc in this list

  • Gerudo@lemmy.zipEnglish
    1 hour

    I’m not a finance wiz but would that mean these 5 companies are carrying around 3 trillion total debt? My bank won’t even let me owe them 20 bucks without penalties.

    • Lost_My_Mind@lemmy.worldEnglish
      25 minutes

      If you owe the bank $100, that’s your problem. If you owe the bank $100 million, that’s the bank’s problem.

      I mean, that quote maybe needs to be updated for inflation, but you get the idea.

  • diocesegoldmine@sh.itjust.worksEnglish
    2 hours

    I genuinely am having a hard time believing this because the image looks like it was generated… The kind of reality the .01% has shoved us into.

  • someguy3@lemmy.worldEnglish
    2 hours

    A Nikkei analysis of financial footnotes at Alphabet, Microsoft, Amazon, Meta, and Oracle found $1.65 trillion in off-balance-sheet obligations tied to AI infrastructure — binding, must-pay commitments parked in the fine print.

    …a company creates or partners with a separate legal entity — a special-purpose vehicle (SPV) — that borrows the money and owns the assets. The tech company signs long-term leases or capacity contracts but doesn’t record the SPV’s debt on its own books.