Study: Debt of major technology companies increased by 86% due to investment in artificial intelligence

Despite the exorbitant sums that major companies realize from artificial intelligence revenues, other hidden sums result in debt, as a recent study revealed that the long-term debt of eight major American technology companies increased by 86 percent within one year, according to a study published by the credit insurance company “Allianz Trade” today, Friday (September 11, 2026).

The off-balance sheet liabilities of these companies, which mainly include data centers, power supplies and artificial intelligence infrastructure, increased from $573 billion to about $2.6 trillion within one year.

Because of these obligations, which only partially appear, the actual debt burden of companies increases at a rate of approximately 150 percent, which lowers their credit rating by one to two degrees, according to the German newspaper “Handelsblatt.”

Hernandez de Cos stressed, during a conference hosted by the Central Bank of India, that the artificial intelligence boom increasingly depends on financing through debt and private credit rather than corporate profits, and de Cos said that it is a matter that requires close scrutiny given that a large portion of this financing remains “ambiguous and interconnected,” according to the “Global Banking and Finance Review” website.

Technology companies face the risk of a decline in their credit ratings

Alexander Hurt, an expert at Allianz Research, believes that the technology industry has avoided confronting the bitter truth about these obligations, and dealing with them has become more difficult. Hurt said: “The real development is happening in secret: obligations that do not yet appear on the balance sheets will gradually turn into actual obligations in the coming years.”

The study indicates that credit markets have begun to react to the current situation, as risk premiums, or what are known as spreads, for bonds issued by major technology companies have doubled within one year.

However, Allianz Trade assumes that the risks involved are only partially taken into account. “Despite increasing pressures, the risk of an immediate default for technology companies remains low," says Hirt. "The biggest risk is a continued widening of spreads, and thus a gradual reassessment of creditworthiness by capital markets."

Gains achieved by artificial intelligence

AI technologies are impacting global trade and productivity, with Hernandez de Cos noting that generative AI can significantly boost productivity; Studies have shown gains ranging from 10 to 65 percent in specific tasks, especially in the areas of programming, consulting, and professional writing, according to the Global Banking and Finance Review website.

Improvements in productivity are reflected in the economy as a whole, and current estimates indicate that artificial intelligence may raise the growth rate of “total factor productivity” by about half a percentage point annually, all of which depends on the pace of adoption of this technology and the effectiveness of reallocating elements of labor and capital.

Advanced economies are expected to benefit the most; Due to the magnitude of its service sectors and the high level of readiness to adopt artificial intelligence technologies.