AI Spending Surge Drives Record Annual US Investment-Grade Bond Issuance
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Driven by a surge in artificial intelligence spending that has pushed companies to take on more debt, US investment-grade bond issuance this year is expected to set a historical record on Monday, surpassing 2020's $1.75 trillion, with year-to-date issuance reaching $1.76 trillion once Monday's trades are priced. Since 2026, AI-related financing in the global high-grade bond market has exceeded $300 billion, nearly three times the full-year 2025 level. This year the US has seen nine deals each sized at least $25 billion, and apart from Skydance Corp.'s acquisition financing, all came from technology companies.
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US investment-grade bond issuance has set a record amid a surge in AI spending, offering readers a view of how AI capital expenditure transmits to corporate financing.
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美国投资级债券今年的发行规模有望在周一刷新历史纪录，超过2020年疫情引发的借贷热潮中创下的1.75万亿美元纪录，因人工智能(AI)支出激增推动企业加大举债。数据显示，待周一的交易完成定价后，今年以来的发行规模将达到1.76万亿美元。许多分析师此前已经预计，受人工智能领域支出大幅增长的预期推动，今年发行规模将创年度纪录。2026年以来，全球高评级债券市场的AI相关融资规模已超过3000亿美元，接近2025年全年规模的三倍。今年美国已有九笔单次发行规模至少达到250亿美元的交易，除Skydance Corp.为收购进行的融资外，其余均来自科技公司。”“我们正在见证数十年来资本密集程度最高的企业周期之一，”高盛资产管理多元固定收益投资主管Lindsay Rosner表示。