A Moody's rating report indicates that five major US tech giants—Amazon, Microsoft, Google, Meta, and Oracle—have accumulated up to $2.8 trillion in AI-related off-balance sheet obligations to support the expansion of AI infrastructure. These obligations, which include lease agreements, purchase commitments, and guarantees, are not recorded on the companies' balance sheets. This figure represents an eightfold increase from $350 billion in 2023. Moody's analysts emphasize that these commitments are rapidly growing each quarter and have become a critical variable in assessing these companies' debt-servicing capacity and credit quality. Specifically, leases for unbuilt data centers have exceeded $1 trillion this year, purchase commitments have risen to $1.57 trillion, and guarantees stand at $137 billion.