TOP HYPERSCALERS LIKELY TO HAVE MORE AI - LINKED DEBT THAN NOW KNOWN , S & P GLOBAL WARNS

What happened: S&P Global said the biggest tech firms likely carry more AI-linked debt than is currently disclosed, through guarantees and interconnected financing structures, though its top sector analyst sees no need to change ratings now. Key numbers: S&P expects the top six US hyperscalers to spend more than $7 trillion on data centers and Why it matters: Mark Habib said the biggest rating risk is whether expected profits fail to materialise, and that undisclosed or unrated transactions limit visibility. He said a major disconnect forcing rating changes is not S&P's view for now.

S&P Global said the biggest tech firms likely carry more AI-linked debt than is currently disclosed, through guarantees and interconnected financing structures, though its top sector analyst sees no need to change ratings now.

Mark Habib said the biggest rating risk is whether expected profits fail to materialise, and that undisclosed or unrated transactions limit visibility. He said a major disconnect forcing rating changes is not S&P's view for now.