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The overseas bond sales underscore how surging spending on artificial intelligence is leading American technology companies to court investors beyond the U.S. in the high-stakes race. Big Tech is expected to spend more than $700b on AI infrastructure this year, a sharp increase from $410b in 2025. That has led the companies to rely more on debt, after putting to use their large cash flows for years.
"It's simply a function of when you have that much debt to raise and have very good credit like the hyperscalers are, you can do that not just domestically but globally," Art Hogan, chief market strategist at B. Riley Wealth, said.
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