Big Tech taps debt markets for AI data centers (opens in new tab)

Large U.S. technology companies are drawing more heavily on debt markets as AI data-center construction strains cash reserves and increases their exposure to interest rates. CNBC reported that Amazon, Alphabet, Microsoft and Meta are expected to invest a combined $750 billion in AI infrastructure this year, more than 80% above last year’s level. The financing shift marks a change for companies long viewed as less sensitive to borrowing costs because of large profits and free cash flow. The Hi...