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Lindsay Rosner, head of multi-sector fixed income investing at Goldman Sachs Asset Management, said we are witnessing one of the most capital-intensive corporate cycles in decades. This assessment comes as U.S. investment-grade bond issuance is on track to set an annual record: driven by a surge in artificial intelligence spending, U.S. investment-grade bond issuance this year is expected to surpass 2020's $1.75 trillion on Monday, reaching $1.76 trillion; since 2026, AI-related financing in the global high-grade bond market has exceeded $300 billion, nearly three times the full-year 2025 level. There are currently no further developments.
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Oct 27
Securities Times
US investment-grade corporate bond issuance reaches $1.76 trillion this year, with AI infrastructure financing as the main driver
As of October 26, US investment-grade corporate bond issuance for the year was about $1.76 trillion, exceeding the 2020 record of $1.75 trillion. Bloomberg data shows that in the 2026 global investment-grade bond market, AI-related financing has exceeded $300 billion, higher than the full-year level in 2025, with Microsoft, Amazon, Alphabet and others continuing to increase investment in data centers and computing power. PIMCO noted that as of September 23, AI-related issuers accounted for nearly a quarter of US dollar non-financial corporate bond issuance, up from less than 13% in 2025 and about 4% in 2024.
Cailian Press
Goldman Sachs Says Hyperscale Data Center AI Investment to Peak in Q4, US Investment-Grade Bond Issuance Hits Record
Goldman Sachs Chief Economist Jan Hatzius expects the year-over-year change in hyperscale data center investment as a share of US GDP to peak in the fourth quarter of 2026 at about 1.5%. Operators including Amazon, Microsoft, Alphabet, Meta, Oracle and SpaceX are expected to spend about $725 billion to $800 billion on AI infrastructure capex this year, up 64% from 2025. The AI investment surge is also driving corporate borrowing; US investment-grade bond issuance this year is expected to set a record on Monday, surpassing 2020's $1.75 trillion to reach $1.76 trillion; since 2026, AI-related financing in the global high-grade bond market has exceeded $300 billion.
Yicai
AI Spending Surge Drives Record Annual US Investment-Grade Bond Issuance
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.