Hyperscalers have collectively committed $1.6 trillion in capital expenditures for AI infrastructure between 2023 and 2026, with external financing needs reaching $3 trillion by 2028. Meta raised $30 billion in bonds in 2025, while Oracle secured $18 billion in a single day. Crypto-native lending is emerging as an alternative through stablecoin loans backed by tokenized GPUs, with the USD.AI project approving a $500 million loan for Sharon AI. Bitcoin miners are pivoting to AI infrastructure financing, with IREN securing $3.65 billion in June 2026. Berkshire Hathaway’s $10 billion stake in Alphabet confirms that traditionally minded investors are joining the movement.
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