U.S. Treasury yields have climbed to their highest levels since 2007, raising borrowing costs for AI companies building out infrastructure. JPMorgan Chase estimated in June that $4.1 trillion in AI-related debt will be issued through 2030, while the 10-year Treasury yield approaches 5.17%, up about one percentage point since the start of the year. SoftBank raised $11.1 billion this week in a junk-bond sale with yields reaching as high as 9.75%, while CoreWeave shares rose nearly 8% for the week and Oracle fell 7%. Lenders are becoming pickier, with industry experts saying only about 20 of the current 50 neoclouds truly attract market interest.
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