Will AI Finance Collapse? Scholar Warns 'Hidden Leverage in Tech Giants' Financials': Off-Balance-Sheet Financing and Debt Reach $1.5 Trillion

Taiwan's Directorate-General of Budget, Accounting and Statistics (DGBAS) will release its latest GDP growth forecast this week. With robust AI demand, strong exports, and healthy investment, full-year economic growth is expected to exceed 10%.

On the program "Financial Fortune Road," Tamkang University's Department of Finance professor Duan Changwen stated that AI computing demand has not yet peaked. Currently, the average AI penetration rate across all U.S. industries is only around 5% to 8%, with widespread adoption expected within the next two to three years, reaching approximately 20%.

Professor Duan highlighted three current ceilings facing AI development. The first is power and computing capacity—whether physical infrastructure and storage systems can keep pace. The second involves whether the market can generate sufficient revenue to justify massive capital expenditures. The third is corporate cash flow sustainability.

According to Duan, the U.S. plans to add 27.5 GW of new data center capacity this year alone. By 2030, total capital spending on AI infrastructure could reach $3.8 trillion to $5 trillion (approximately NT$122 trillion to NT$161 trillion). To justify this $3.8 trillion investment, the AI industry as a whole must generate $8 trillion to $11 trillion (NT$257 trillion to NT$354 trillion) in revenue.

Duan emphasized that to bridge this enormous revenue gap, AI must eventually become as essential as staples like rice, salt, and oil—something every business must pay for to survive. Otherwise, the AI-driven financial system will inevitably collapse.

Reports from Goldman Sachs and Morgan Stanley indicate that while AI giants' financial statements appear strong on the surface, they conceal significant commitments such as off-balance-sheet leases. These hidden financing obligations and debt commitments are estimated at $1.5 trillion (approximately NT$48 trillion), explaining why stock prices sometimes fall despite positive earnings reports. This represents the most dangerous form of hidden leverage and a critical risk going forward. These tech giants must proactively address their debt issues to withstand future liquidity challenges.

More exclusive reports from Storm Media: · Not just AI and chip manufacturing! Scholar identifies the key industry behind Taiwan's 'second economic miracle,' with returning Taiwanese businesses potentially investing up to NT$40 trillion. · NVIDIA reportedly spends nearly NT$100 billion to 'secure power'! The AI battleground expands from GPUs to energy—will Taiwan's power supply chain unlock new business opportunities? · Delta Electronics' EPS hits NT$9.68—why analysts are even more bullish on another stock? The decisive factors in the battle between AI power supply leaders revealed.