Big Tech’s AI debt just hit $350bn, and Europe is about to feel it
THE SO WHAT
$350B in AI-related debt across Alphabet, Amazon, Meta, Microsoft, and Oracle means the capex supercycle is being financed, not cash-flowed—and Europe is a key bond buyer. For enterprises, expect continued pressure to adopt AI services as these firms seek returns; for European regulators and CIOs, counterparty and concentration risk on US AI infra just became a macro question, not a tech one.
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