Google, Meta and the AI ‘hyperscalers’ are on a $1 trillion borrowing binge after years of printing cash. Here’s why Big Tech’s pivot to debt matters

Fortune

by Amanda Gerut

March 7, 2026

Alphabet, Amazon, Meta, Microsoft, and Oracle are spending billions to fund the AI buildout—but overinvestment risk means there will be “winners and losers,” said Pimco’s chief investment officer.

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Originally published on Fortune on 3/7/2026