Six major firms raised $182 billion in 2026 to fund AI infrastructure, a 1,300% jump from 2025, amid credit rating concerns.
Amazon, Alphabet, Meta, Nvidia, Oracle, and SpaceX collectively issued $182 billion in bonds in 2026, up from $13 billion last year. The surge reflects a massive infrastructure buildout for artificial intelligence, including data centers and semiconductors.
Seven bond offerings exceeding $25 billion have closed in 2026, matching the total from 2019 to 2025. S&P Global downgraded Oracle to the lowest investment-grade rating, while Amazon’s $25 billion bond sale faced weak demand.
The shift from cash reserves to debt financing underscores the high stakes of the AI race. If future profits fail to materialize, the debt load could pose significant risks to the sector.