The AI math doesn’t ADD up. Big Tech is borrowing billions to build AI data centers, and one of its biggest customers, OpenAI, just posted a $10.9 BILLION operating loss in one quarter. Amazon, Alphabet and Meta’s long-term debt has nearly quadrupled in a year to $379 BILLION, per their filings. Oracle’s quarterly interest bill jumped 55% to $1.43 BILLION, as it builds out a cloud deal with OpenAI reported at about $300 BILLION. CoreWeave’s interest bill hit $846 MILLION in Q3, about 4 times its operating income, with OpenAI contracts worth up to $22.4 BILLION. Meanwhile, OpenAI’s Q3 operating loss of $10.9 BILLION came on $10 BILLION of revenue, while rival Anthropic’s was just $567 MILLION on $17 BILLION, per WSJ.
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