S&P Global estimates that the potential liabilities of the world's largest technology companies related to artificial intelligence may be higher than currently known, but its chief analyst in charge of this field believes that there is currently no need to adjust the credit ratings of related companies. Habib, head of global digital infrastructure at S&P, said that the biggest risk facing the ratings of hyperscale cloud service providers is that expected profits will eventually not be realized. But at the same time, he emphasized the so-called “interconnected financing structure,” that is, hyperscale cloud service providers actually provide guarantees for large-scale data center construction projects or smaller AI companies. S&P expects the six largest cloud service providers in the US — Amazon, Microsoft, Alphabet, Oracle, Meta, and SpaceX — to invest more than $7 trillion in data centers and other AI-related capital expenses between 2025 and 2030, and maintain negative free cash flow until at least next year.

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