According to Bloomberg, Big Tech’s debt for AI infrastructure has doubled to $350 billion.
Bank of America estimates that AI-related bonds will reach $270 billion in 2026, up from $136 billion in 2025. Hyperscalers make up $194 billion of this amount.
Hyperscalers went from issuing no non-dollar bonds in 2024 to making it a significant part of their funding by 2026, which has led US tech companies to seek financing in European credit markets.
Bloomberg reports that Big Tech’s total AI-related debt has doubled to $350 billion — a trend that Tech Funding News has closely tracked as hyperscalers burn through cash faster than they can replace it.
Amazon, Alphabet, Microsoft, and Meta plan to spend a combined $725 billion on capital expenditure in 2026, up 77% from last year’s record $410 billion, according to Yahoo Finance. Even with more than $1 trillion in combined cash, the four can’t cover that spending from cash flow alone.
