Massive debt-fueled financing of compute infrastructure has drawn acute scrutiny from the US central bank. On November 13, 2026, the Federal Reserve released its semi-annual Financial Stability Report, revealing that 87% of surveyed market participants flagged AI-related risks as a primary threat to the financial system, surging from 50% in May.
According to the Fed, debt issuance tied to advanced compute systems reached $680 billion by October 2026, while total commitments, guarantees, and future data center lease obligations exceed $3 trillion. For macroeconomics, opaque data center financing structures paired with potential revenue shortfalls pose a systemic credit risk.
Sources: Reuters | Federal Reserve Board
$3 Trillion Debt Overhang: US Fed Names AI Top Threat to Financial Stability
