Investment-grade bond buyers are demanding wider spreads and bigger concessions from hyperscalers and other AI-linked issuers as debt supply swells, while more traditional corporate deals continue to draw heavy demand, Finimize reported on 22 September. Goldman Sachs expects gross issuance from hyperscalers to reach $420 billion next year, and SIFMA data shows overall US corporate issuance through August reached $1.9 trillion, up 30% from a year earlier.
Finimize reported that Reuters says the caution does not reflect default fears for big technology companies. Instead, investors are grappling with supply that is swelling and growing harder to predict as spending on data centres, chips and other AI infrastructure accelerates. Deals labelled “ex-hyperscaler”, such as Aon’s acquisition financing, are being snapped up, underscoring the divergence in investor appetite.
