There is a $662 billion hidden debt trap off Microsoft's books related to shadow leases and custom deals keeping OpenAI’s servers running.

Microsoft’s balance sheet shows $40.3 billion in debt.

OpenAI and its partners are planning to borrow hundreds of billions of dollars to fund a data center buildout.

Microsoft plowed $13.8 billion in direct funding into OpenAI.

45% of Microsoft’s guaranteed $625 billion future revenue is locked in fueling OpenAI’s machines.