The hidden AI financial obligations are SKYROCKETING: Disclosed off-balance-sheet commitments across Alphabet, $GOOGL , Amazon, $AMZN , Meta, $META, Microsoft, $MSFT, Nvidia, $NVDA , Broadcom, $AVGO, Oracle, $ORCL, and SpaceX surged to a record $4.1 trillion in October. This is up from $3.1 trillion in August and $1.8 trillion in June. Off-balance-sheet commitments are now more than 4 TIMES the $1.0 trillion in on-balance-sheet debt and leases. The increase is largely driven by massive future purchase obligations, which climbed to $2.25 trillion from $1.73 trillion, while leases yet to commence rose to $1.39 trillion from $1.12 trillion. Meanwhile, guarantees and financial backstops jumped to $273 billion from $158 billion, adding another layer of future financial obligations. Among companies reporting Q3 figures, Meta, $META, added +$195 billion in commitments, Alphabet, $GOOGL, +$164 billion, Amazon, $AMZN, +$131 billion, Microsoft, $MSFT, +$35 billion, and SpaceX +$51 billion. Notably, Nvidia, Broadcom and Oracle account for another $381 billion of the increase in the updated estimate, although their figures still rely on summer filings rather than Q3 reports. The $4.1 trillion is just the beginning, with further increases coming as more companies disclose their latest commitments.