Deepstory Research

AI Debt: How the Build-Out Is Financed

Bond issuance backing AI infrastructure — by issuer, versus 2025, and against sell-side projections for the full year.

Curated snapshot Last updated: Aug 14, 2026 11 data points
AI-linked bond issuance by issuer, 2026 YTD

AI-linked bond issuance by issuer, 2026 YTD

Corporate bonds sold by the five largest US tech issuers, $ billions, through early June 2026.

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Big-tech bond issuance: 2025 full year vs 2026 YTD

Big-tech bond issuance: 2025 full year vs 2026 YTD

Combined issuance by the five largest US tech issuers, $ billions.

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Where AI-linked debt is projected to land

Where AI-linked debt is projected to land

Issued-to-date versus sell-side projections for full-year 2026, $ billions.

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Data table

AI Debt: How the Build-Out Is Financed — full data table
usd_b issuer series source_ref value_basis period label
57 Amazon issuance_by_issuer cryptobriefing-159b Amazon ~$57bn of bond issuance, 2026 through early June
52 Alphabet issuance_by_issuer cryptobriefing-159b Alphabet ~$52bn of bond issuance, 2026 through early June
30 Meta issuance_by_issuer cryptobriefing-159b Meta $30bn bond offering, 2026
18 Oracle issuance_by_issuer cryptobriefing-159b Oracle raised $18bn, 2026
121 issuance_trend cryptobriefing-159b Five largest US tech issuers sold $121bn across all of 2025 2025 full year

6 more rows + CSV download

The full 11-row dataset, one-click CSV export, and the AI-ready context file are free with an account. Prefer to verify it yourself? The full methodology and sources are published below.

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Methodology & sources

Last updated: Aug 14, 2026

Methodology

This index tracks how the AI build-out is FINANCED, which is a different question from how much is being spent. Capex guidance is covered separately by the ai-capex-vs-defense index. Issuer figures are 2026 corporate bond issuance through early June, as reported for the five largest US tech issuers. Microsoft is inside the $159bn five-issuer total but no standalone figure is published in the cited source, so that bar is OMITTED rather than derived by subtraction. CAVEAT: the projections chart mixes three different measures — issuance to date, a hyperscaler-only sell-side range, and a broader "global AI-related debt" projection. They are not additive. The ~$800bn private-credit figure is an ESTIMATE of off-balance-sheet data-centre structures, not an issuance tally, and is the least observable number on the page. Scout run: Trending_Candidates/2026-08-06.md. Re-verified 2026-08-10.

Comparisons are informative, not definitive. See each source for definitions and limits.

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