[Moody's Warns of $662 Billion Risk in Data Center Construction by Five Tech Giants] Deep Tide TechFlow reports, on February 25, Moody's Ratings recently released an industry report indicating that five tech giants—Amazon, Meta, Alphabet, Microsoft, and Oracle—have collectively signed future data center leasing contracts worth $662 billion. However, these contracts, which have yet to take effect, are currently entirely excluded from their balance sheets. These tech companies are leveraging U.S. Generally Accepted Accounting Principles (GAAP) provisions, using methods such as short-term leases and residual value guarantees (RVG) to keep massive liabilities off their balance sheets. Moody's analysts pointed out that this "hidden debt" is equivalent to 113% of the recently adjusted debt of these five companies, which could severely restrict their financial flexibility as conditions in the AI industry rapidly evolve. With the acceleration of AI infrastructure development, this accounting treatment is obscuring the real economic risks faced by the tech industry.