Microsoft borrowed 25 billion dollars a day after positive free cash flow, Amazon’s AWS grew 39% on negative cash flow, and Seoul sold the memory suppliers paid in advance: AI capex now runs on the credit window.
Microsoft funded its AI capex from free cash flow and rose; Alphabet turned to bonds and stock sales and fell 10%, while Marvell’s reported Lumentum bid confirmed the laser bottleneck.
Corning’s customers prepay its fibre capacity and SK hynix has deposit-backed long-term agreements on over half of its 2027–28 output: why buyer-funded capacity ranks first among AI memory and optics suppliers.
Broadcom backs the residual value of a 63 billion USD chip lease to Anthropic, while Anthropic’s S-1 warns HBM supply from SK hynix, Samsung and Micron may fall short: what it means for AI infrastructure, memory and risk.
SK hynix is reported to be weighing a $12bn special dividend while AI cloud debt markets shut, and the Fed, SK hynix, Microsoft and Alphabet all land on one Wednesday.
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