Even before Nvidia Corp. ’s splashy $500 billion financing partnership this week, investors were starting to fret over the roughly $70 billion in phantom liabilities that don’t appear on major AI companies’ balance sheets, but could materialize at the worst possible time.
Source: [Bloomberg Markets](https://www.bloomberg.com/news/articles/2026-08-15/bond-traders-agonize-over-ai-companies-70-billion-of-shadow-credit-backstops)