AI data center debt hit $25.4B in 2025, up 112% year-over-year. Here's how hyperscalers and crypto miners are financing the AI infrastructure build-out.

AI data center debt hit $25.4B in 2025, up 112% year-over-year. Here's how hyperscalers and crypto miners are financing the AI infrastructure build-out.

Big Tech's AI infrastructure debt has doubled to $350B, with hyperscalers issuing record bonds in Europe, crowding out local scale-ups and signaling a shift from capital-light to…