Are Big Tech companies spending too much on artificial intelligence?
A late-September 2026 Financial Times report said Big Tech firms are keeping roughly $300 billion of AI data-center debt off their balance sheets.
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For those who believe AI is the most important technological innovation in human history -- one that will soon surpass human intelligence on all dimensions -- this isn't overspending. The first to super intelligence and recursive self-improvement will have a major and potentially permanent advantage. I'd argue the risk of underspending is much greater than the risk of overspending.