These companies have increased their estimated AI spending to $725b this year, and are looking to raise debt in currencies including Swiss francs and euros, which offer attractive borrowing costs due to lower policy rates. Some borrowers were also looking into raising debt in Australian and Singaporean dollars.
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Big Tech groups launch global borrowing spree to fund AI expansion
Raising debt in foreign currencies allows them to “leave longer intervals between tapping the US market and build some scarcity value”.
