In the ledgers of the world's most powerful technology companies, a quiet reckoning is taking shape: roughly $300 billion in artificial intelligence liabilities have been structured to remain invisible to the ordinary investor, tucked into footnotes and financial guarantees that accounting rules do not require to appear on balance sheets. Analysts like Michael Burry warn that the true figure may approach $3 trillion, a gap between what is disclosed and what is owed that the market is only beginning to sense. As credit default swap spreads widen for the largest hyperscalers, the financial syste