Currently, regarding the trend of tech giants increasingly using SPVs for financing, Gimme Credit senior analyst Dave Novosel believes that the use of SPVs is more of a strategy to cope with the surge in new debt, rather than a concern about the health of tech giants' balance sheets.
He explained that using a SPV not only achieves debt separation but also isolates the risks of specific projects, providing investors with more investment options. Mega-corporations and other issuers of large-scale bonds possess extremely strong creditworthiness, thus enabling them to easily raise funds in the capital markets.