Because this isnt actaully debt. Almost all of it is agreements to pay for completed datacenters from developers. Its just a way to offload operational risk when constructing datacenters. If the construction somehow fails theyre not stuck with the bill.
> If the construction somehow fails theyre not stuck with the bill.
Who is stuck with that bill and what is their ultimately their primary source of financing?
According to ciphertalk, VCs charging high premiums: https://news.ycombinator.com/item?id=48917135