Intel’s five-year credit default swap spread reached a record 123.5 basis points on October 30, 2026, after rising from 104 basis points two days earlier. It was the contract’s largest one-day increase since October 2022, with the annual cost of default protection now reaching 1.235% of the insured amount. The move followed Alphabet’s disappointing quarterly results, which intensified concerns about the sustainability of artificial intelligence spending. Broadcom and SpaceX also reached record spreads, while Alphabet’s increased by about 5.1 basis points. Trading volume in credit default swaps tied to the largest hyperscalers and chipmakers has surged more than eightfold this year to $176 billion.
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