[skybrian]

If the bubble bursts then lots of investors will discover that they're poorer than they thought. I think the big tech firms will come out of it okay, though, due to holding lots of cash and little debt. They have other sources of income.

But apparently there are ways to keep the debt used to build data centers off the books? What happens if the data centers are no longer needed? I can't tell if that's an accounting fiction (the tech company has to buy the data centers anyway) or if the tech company can say "never mind, I don't need any more datacenters" and bondholders lose their money.