Amazon.com (NASDAQ:AMZN), Alphabet (NASDAQ:GOOG), Alphabet (NASDAQ:GOOGL), Meta Platforms (NASDAQ:META)

That's a sharp shift. For years, hyperscalers funded growth largely through internal cash flows. Now, AI capex is outpacing that — and the gap is being filled by the bond market.The AI Arms Race Goes LeveragedThe numbers tell the story.This isn't incremental spending. It's a full-blown arms race, with companies racing to build data centers, secure compute, and scale AI capabilities — even if it means leaning on debt.Notably, Microsoft Corp (NASDAQ:MSFT) has largely avoided this wave, relying instead on its ...