A few trillion here, a few trillion there, and suddenly you are talking about real money

Big Tech companies have moved more than $120 billion of data centre spending off their balance sheets using special purpose vehicles funded by the cocaine nose jobs of Wall Street, stirring fresh jitters about the financial risks of their huge bet on artificial intelligence.

Debt fears grow while Wall Street whispers about a popping bubble

Blue Owl Capital has walked away from talks to bankroll a $10 billion data centre for Oracle in Saline Township, Michigan, a flagship project meant to feed OpenAI.

Partners stack colossal borrowings around the start-up

OpenAI’s rise looks flashier than a Vegas strip as its data centre pals rack up eye-watering loans so the chatbot darling can scale without sweating the repayments.