Tech Giants Borrow Record $428B for AI Race

Tech giants worldwide are borrowing record amounts to fund AI advancements, with U.S. firms leading the charge. Despite having substantial cash reserves, these companies are turning to debt due to AIs high costs and rapid tech changes. However, debt levels are rising faster than earnings, raising concerns about sustainability as cash flow covering debt hits a five-year low.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.