Archive / paywall: <https://archive.is/zlML5>
The first paragraph basically explains:
> Meta Platforms is building a $27 billion data center in Louisiana, financed with debt, and neither the data center nor the debt will be on its own balance sheet.
The rest discusses the details of (what appears) to be quite aggressive choices, which fundamentally are about lying: it's (per the article) functionally Meta's debt, but magically not on Meta's books.
It sure feels like this will not end well.