Moody's exposes the debt reality of American technology giants: more than $660 billion in hidden off-balance sheet liabilities.

The construction of artificial intelligence data centers is currently a major investment focus of US technology giants, but over time, this large-scale bet is turning into a dual concern for investors on the debt and performance of tech companies. A report recently released by the rating agency Moody's shows that the five largest hyperscale data center operators in the US have made future data center leasing commitments worth a total of $662 billion, which have not yet taken effect and are not included in their balance sheets as they are not considered as current liabilities.