BIG TECH HAS ALREADY COMMITTED $3 TRILLION TO AI 🤯 $GOOGL, $META, $MSFT, $AMZN and $ORCL are locking in an unprecedented amount of future spending on data centers, chips, energy and leases. → Google: $1T+ in commitments → Meta: $800B+ → $1.3T in future leases alone → Another $1.9T in purchase commitments And some of these leases run for up to 30 years. Here’s what makes me cautious: parts of the AI boom are already pushing cash flow into negative territory. Oracle is now using customer prepayments to manage the upfront bill, targeting a return to positive FCF in 2028 👀 🔻 Just a reminder that these exact same actions caused $SMCI to collapse The bet is that AI demand will eventually justify all this infrastructure. But what happens if demand grows slower than capacity? These commitments don’t disappear overnight. They could become a serious burden, even for companies with enormous balance sheets.