💰 The AI arms race is now a debt arms race

💰 The AI arms race is now a debt arms race. Alphabet, Amazon, Meta, Microsoft, and Oracle borrowed $159 billion in corporate bonds in the first half of 2026 alone. That's more than they borrowed in the entire 5 years from 2020 to 2024... Combined. Oracle by itself took on $43 billion in debt since September. Morgan Stanley expects global AI-related borrowing to hit $570 billion this year: More than double last year. These companies are so convinced AI is the future that they're mortgaging their balance sheets to get there first. If they're right, it's the greatest capital allocation in history. If they're wrong, it's the greatest debt bubble since the housing crisis. @aipost 🏴