On February 9, the Financial Times reported that due to a surge in AI investments by tech giants in 2026, capital expenditures will exceed cash flow, compelling even the world's most profitable companies to raise tens of billions of dollars to support their investments. Companies such as Google, Amazon, and Meta plan to invest over US$660 billion in chips and data centers, potentially by cutting shareholder returns, tapping into cash reserves, or entering the bond and stock markets for financing.
