Nothing.

A Nikkei analysis of financial footnotes at Alphabet, Microsoft, Amazon, Meta, and Oracle found $1.65 trillion in off-balance-sheet obligations tied to AI infrastructure — binding, must-pay commitments parked in the fine print.

…a company creates or partners with a separate legal entity — a special-purpose vehicle (SPV) — that borrows the money and owns the assets. The tech company signs long-term leases or capacity contracts but doesn’t record the SPV’s debt on its own books.

Put the two sentences together. Then realize it’s also a joke.

New low is going to become a common phrase for space x. Boldly going where no stock has gone before.

The big players that invested years ago. They aren’t allowed to dump their stock on day 1 because of the obvious issues. But as they are allowed to sell, that increases the selling pressure as well as increasing the share pool available.

Early investors are still in their lock in period.