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  "documentTitle": "2025 Air Street Capital The State of AI Report 2025",
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  "authorName": "Air Street Capital",
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  "notes": "The slide tracks large-scale borrowing events across the AI stack, noting specific lenders and deal structures.",
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      "text": "Debt Amount: $26B",
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      "text": "Organizations across the AI stack begin to form stronger reliances on private credit packages to fund ever more ambitious buildouts. As with past cycles, this present possible pitfalls. The table below highlights many of the largest borrowing events in the past year:",
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