Moody's Warns Anthropic and OpenAI Carry $2.5T in Off-Balance-Sheet Debt
SumitGup · x · 2026-09-26
Per Moody's, Anthropic and OpenAI now have roughly $2.5 trillion of off-balance-sheet debt — about 7% of the US national debt, comparable to the combined commitments of Google, Meta, Amazon, Microsoft and Oracle.
Moody's raised growing concerns about $3 trillion of hyperscaler commitments and $2.5 trillion from LLM operators that haven't hit balance sheets, relying on future RPO that is largely circular in nature between the companies (e.g., Oracle, CoreWeave, Meta).
Related event: Moody's Warns of Multi-Trillion Dollar Off-Balance-Sheet AI Debt(2 posts)→
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