Big Tech’s AI ‘hyperscalers’ are on a $1 trillion borrowing binge after years of printing cash0

• AI, Business, Finance, Tech
• March 7, 2026

Almost every major capital spending boom during the past 200 years has ended in bankruptcies, consolidations, and tears—but also wins for the victors. The late 1990s buildout of fiber-optic networks, in which companies spent billions to pull dark fiber across continents and under oceans, saw borrowers like WorldCom, Global Crossing, and others go under. The