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U.S. Tech Giants Hide $1.65 Trillion Debt, Oracle Rating Cut

7/23/2026

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Summary

Story summary

U.S. tech firms Alphabet, Microsoft, Amazon, Meta and Oracle hold estimated $1.65 trillion in hidden debt.
The hidden sum exceeds the $1.35 trillion shown on their balance sheets.
Analysts link the liabilities to long-term AI infrastructure contracts such as data-center leases and hardware purchases.
S&P cut Oracle’s short-term rating to A-3 and long-term rating to BBB- after its hidden debt rose to $273.3 billion, a 2,900 % increase since 2022.

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Story summary

U.S. tech firms Alphabet, Microsoft, Amazon, Meta and Oracle hold estimated $1.65 trillion in hidden debt.
The hidden sum exceeds the $1.35 trillion shown on their balance sheets.
Analysts link the liabilities to long-term AI infrastructure contracts such as data-center leases and hardware purchases.
S&P cut Oracle’s short-term rating to A-3 and long-term rating to BBB- after its hidden debt rose to $273.3 billion, a 2,900 % increase since 2022.