Moody’s flags $662 billion risk at the heart of the data-center buildout by just 5 companies

The technology sector’s frantic race to build artificial intelligence infrastructure has created a massive, financial overhang. According to a recent sector in-depth report by Moody’s Ratings, the top five U.S. hyperscalers have accumulated $662 billion in future data center lease commitments not yet begun that, because of that fact, are not current liabilities and therefore currently sit entirely off their balance sheets. As those leases begin over the next several years, and as landlords’ obligations are fulfilled...