First Brands founder accused of looting company | Fortune
Patrick James allegedly misappropriated hundreds of millions, doctored financials, pledged duplicate collateral, and funded lavish personal spending, causing First Brands' bankruptcy.
Meta's $27 billion bet turns AI compute into Wall Street's hottest new investment | Fortune
Meta partnered with private-credit investors to fund a $27 billion Hyperion data center via an SPV, creating a new investable infrastructure asset class.
Debt financing in AI is a signal that the bull market in tech is 'getting weaker and weaker as the days go by,' Morgan Stanley CIO says | Fortune
Debt‑financed, off‑balance‑sheet AI infrastructure deals increase opacity and investor pressure, complicating the tech bull market narrative and demands for measurable returns.
First Brands: why a maker of spark plugs and wiper blades has Wall Street worried
Opaque off-balance-sheet financing at First Brands triggered a multi-billion-dollar collapse and bankruptcy, revealing massive undisclosed liabilities and market contagion risk.