A post by @FirstSquawk on X.

America's largest technology companies have accumulated $3.2 trillion in off-balance-sheet AI-related obligations, a 90% surge over the past six months, according to data cited by First Squawk. The figure captures debt-like commitments tied to artificial intelligence infrastructure that do not appear directly on corporate balance sheets, obscuring the true leverage behind the sector's AI buildout. The scale of the increase matters because it suggests the financing behind data centers, chips and computing capacity is increasingly being kept off reported financial statements. Investors and analysts will be watching upcoming earnings disclosures and credit ratings commentary for clearer visibility into these obligations and how they are structured.