Bloomberg data shows that 23 AI-related investment-grade bonds, each exceeding $3 billion, were issued between September 2025 and mid-October 2026, totaling $378.2 billion. However, no new eligible transactions have emerged since September 2026. Debt financing can be converted into capital expenditures such as data center construction and chip procurement, generating orders, revenue, and profits for upstream companies. The slowdown in issuance will affect the investment progress of SPVs and data center projects that rely on external financing.
