AI-related debt issuance reached $489 billion by mid-2026, with hyperscalers accounting for roughly 40% of that total. In 2025 alone, corporate bond issuance tied to AI infrastructure hit around $120 billion, representing growth of over 500% compared to 2024. Meta issued roughly $30 billion in bonds for data centers, while Alphabet and Oracle together issued nearly $60 billion in February 2026. Oracle’s credit default swap spreads increased 44% to 87 basis points, and investors are starting to sell longer-dated AI-linked bonds. This bond market nervousness poses a risk to mega-cap tech valuations and could also spill over into AI-adjacent crypto assets.
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