Nikkei Asia reported on July 21 that the hidden debt tied to opaque AI financing at five U.S. technology giants has surged to $1.65 trillion, according to Jiemian News. After reviewing the financial reports and other materials of Alphabet, Microsoft, Amazon, Meta and Oracle, the publication said their off-balance-sheet debt had increased eightfold over the past four years and reached $1.65 trillion in the latest quarter, far above their roughly $1.35 trillion in on-balance-sheet liabilities.