> billions of dollars that they dont even have

Companies don't ever "have" things, they are themselves things that people have. There isn't a fundamental difference between taking a loan smaller than their total capitalization or spend some money they have liquid at the bank. It's both taking money from the shareholders and spending on something.

That said, yes that investment is stupid and deserves quotes around the word. But making risky investments when the company is operating in the red isn't stupid at all... it's just that this one isn't risky, it's certainly bad.

If you can borrow money at X% and make (X+1)% on that money, you do that and invest it. As an individual you can do that by buying stocks on margin.

Wait until you discover that the bank doesn't have those dollars in your account.