Tech companies increase bond sales despite rising financing costs

Bloomberg reports that tech companies are ramping up bond issuance this year, even as financing costs rise. Nearly $500 billion in AI-related debt has been issued in 2026 so far, a borrowing spree aimed squarely at data centers, AI chips and the infrastructure that ties them together. Who is borrowing, and how much The biggest names in the pile are the so-called hyperscalers. That’s industry shorthand for the companies running cloud computing at enormous scale: Amazon, Alphabet, Meta, Microsoft and Oracle. Collectively, the hyperscalers have issued approximately $200 billion or more in new debt in 2026. Amazon raised roughly $54 billion recently. Alphabet came in at $31.5 billion and Meta at $30 billion. Oracle’s issuance falls somewhere in the $18-30 billion range. Broadcom has tapped the market, and SpaceX completed a $25 billion bond deal in June 2026. That SpaceX deal was oversubscribed. Why the timing looks unusual Long-term Treasury yields have reached multi-decade highs, and corporate borrowing costs tend to move with them. Analysts at Bank of America raised their 2026 hyperscaler debt forecast from $140 billion to $175 billion after the latest wave of issuance. Projections ...