[S&P Warns Hyperscale Data Center Operators' AI Debt May Exceed Known Levels] DeepTech TechFlow reports that on October 20, according to Yonhap News Agency, Mark Habib, Global Head of Digital Infrastructure at S&P Global, stated during a roundtable discussion in London on October 19 that hyperscale data center operators may be carrying more AI-related debt than currently known. One of the reasons is the "interconnected financial structures" formed by their large-scale data center construction and the financial guarantees provided to smaller AI companies. S&P Global estimates that six major hyperscale operators—Amazon, Microsoft, Alphabet, Oracle, Meta Platforms, and SpaceX—will invest over $7 trillion in capital expenditures for data centers and AI infrastructure between 2025 and 2030, and will likely experience negative free cash flow at least until next year. In July this year, S&P Global downgraded Oracle's credit rating by one notch to the lowest investment grade, "BBB-", citing excessive AI spending and uncertain profitability prospects. Habib stated that S&P's credit ratings reflect a long-term perspective and currently do not see the divergence between market conditions and ratings as severe enough to warrant immediate adjustments. However, if capital expenditure levels are definitively deemed unsustainable, this view may change.