Okay, here's a breakdown of the key themes and insights gleaned from the provided news snippets, organized for clarity. I'll categorize the information and highlight key points.

Debt Accumulation: AI giants are taking on massive amounts of debt to fund their projects—far beyond just equity investment. This is a significant shift in how the AI race is financed.
Sophisticated Financing: They're using complex financial structures to borrow, with deals often involving multiple institutions and arrangements to keep the debt off their balance sheets. This suggests a degree of risk-awareness and attempts to conceal the true extent of their borrowing.
High Interest Rates: Interest rates are remarkably high (6%+), indicating lenders perceive considerable risk or are taking advantage of high demand for financing in this sector.
Implications: This level of debt could create instability if the AI projects don’t generate sufficient returns. It challenges the narrative that the AI boom is a safe investment.

II. French Budget – Security Social (PLFSS) – Key Themes (Lemonde.fr – Budget de la ‘Sécu’)

Health and Social Security Focus: The PLFSS (Project of Law for the Financing of Social Security) is the annual French budget concerning healthcare, retirement, and social programs.
Key Areas of Debate: The snippets highlight debate around:
- CSG (Contribution Sociale Généralisée): Changes related to retirement taxes.
- Health Costs: Issues around healthcare for non-Europeans.
- Nutri-Score: The food labeling system.
- Company Health Contributions Costs related to corporate health insurance.
Budgetary Process: The budget process involves debate and votes on both “revenue” (taxes, contributions) and “expenditure” aspects.
Suspension of Pensions Reform: The snippets mention that the budget incorporates the suspension of the pension reform.

III. French Budget – Main Measures (Lemonde.fr – Main Measures)

Taxes & Contributions: Debates regarding the CSG for retirees and adjustments to social contributions.
Healthcare: Discussion about expenses related to health coverage for non-European citizens.
Food Policy: Ongoing debate around the Nutri-Score system.
Business & Employment: Policies related to company health contributions and employment policies.

IV. AI Financing - Meta & Oracle (Lemonde.fr)

Meta’s Financing: Secured $30 billion in debt with a 6.58% interest rate.
Oracle & OpenAI Financing: Secured $38 billion in loans to build data centers, with funding from 30 institutions for leasing.

Overall Summary and Connections

These news reports paint a picture of two significant economic trends:

The Financial Risks of AI: The AI boom isn't built on solid foundations of equity alone. It is increasingly financed by large amounts of debt, which comes with significant risks. Investors are taking on high exposure.
Complex Budgetary Challenges: The French government faces complex budgetary challenges balancing the need to fund social programs, address healthcare costs, and navigate economic uncertainties.

Let me know if you'd like me to elaborate on any specific aspect or analyze these reports in more detail.