• S&P Global Ratings projected combined hyperscaler capital expenditure to exceed $1.3 trillion by 2027, driven by AI infrastructure buildouts.
• Negative free operating cash flow is expected across Alphabet, Amazon, Microsoft, Meta, Oracle, SpaceX in 2026-27; recovery not projected until 2029.
• Funding mix is shifting toward debt, leases, equity issuance, guarantees, joint ventures, SPVs, raising debt-like obligations and credit-analysis complexity.
• Base-case modeling assumes a 2028 inflection point as revenue accelerates and capex growth moderates, hinging on AI monetization and demand durability.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. S&P Global Inc. published the original content used to generate this news brief via PR Newswire (Ref. ID: 202608270800PR_NEWS_USPR_____NY34370) on August 27, 2026, and is solely responsible for the information contained therein.