The credit default risk of companies linked to artificial intelligence has reached unprecedented levels, according to Kalshi. Five-year credit default swap spreads have hit new highs for CoreWeave, Oracle, Meta, and Nvidia. The increase comes amid a surge in debt issuance, which reached $466 billion in 2026. It reflects heightened concerns about the financial difficulties facing the sector, although it does not mean that defaults have occurred, and it places OpenAI’s financial stability under particular scrutiny.
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