Rishi Sunak says tech giants will out-borrow the US government in 2027

Rishi Sunak thinks Big Tech is about to out-borrow the most famous borrower on Earth. The former UK prime minister said technology companies will issue more long-term debt than the US government in 2027, and he pinned the shift squarely on AI investment. What Sunak actually said Sunak made the call on October 13, 2026, at the Bloomberg New Economy Forum in New Delhi. He now serves as a senior advisor to Anthropic, the AI developer. His projection centers on the so-called hyperscalers. These are the giant cloud and AI operators, including Meta, Alphabet, Amazon, Microsoft, and Oracle. The prediction is that these firms are on track to overtake the US government as net issuers of long-term debt next year. The money, in his framing, is going toward AI-related capital spending: data centers and the infrastructure that keeps them running. The numbers behind the borrowing binge By early September 2026, global AI-related debt issuance had reached approximately $450 billion, about double the 2025 total. According to the Bank of England, hyperscalers accounted for 47% of sterling corporate bond sales in the UK so far in 2026. Looking ahead, projections for hyperscaler bond issuance in 2027 ...