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2026-10-27 03:52:22
US investment-grade bond issuance is highly likely to reach a new annual record, with explosive growth in investment in artificial intelligence driving companies to expand debt financing. Total issuance of US investment-grade bonds this year is expected to break historical records on Monday, surpassing the $1.75 trillion record set during the borrowing boom spurred by the 2020 pandemic. The core driver is the surge in AI-related spending, prompting companies to increase borrowing. Statistics show that after Monday's pricing process, the cumulative issuance since 2024 will climb to $1.76 trillion. Many industry analysts had previously predicted that this year's issuance would set a new annual record based on widespread market expectations of significant growth in AI spending. Since 2026, total AI-related financing in the global high-grade bond market has exceeded $300 billion, nearly three times the total financing for the entire year of 2025. This year, the US market has already seen nine large-scale transactions with issuances of at least $25 billion each. Apart from Skydance Corp.'s financing to advance its acquisition, all other large transactions were initiated by technology companies. “We are currently experiencing one of the most capital-intensive corporate growth cycles in decades,” said Lindsay Rosner, head of diversified fixed income investments at Goldman Sachs Asset Management.
