AI-Driven Global Debt Issuance Could Top $500 Billion in 2026

Global debt issuance linked to artificial intelligence investments is expected to surpass $500 billion in 2026, driven by massive infrastructure spending from major technology companies.

Major technology companies — including Alphabet Inc., Amazon, Microsoft, and Meta — are expected to collectively spend around $700 billion on AI-related investments this year. (Photo: Amazon X)

Morgan Stanley forecasts AI-related global debt issuance could rise to nearly $570 billion this year, more than doubling from previous levels as companies seek alternative financing to fund expanding AI operations.

Technology firms traditionally reliant on strong cash flows are increasingly turning to debt markets as capital expenditures surge.

According to Morgan Stanley estimates, AI-related debt issuance had already reached approximately $236 billion as of May 31, significantly higher than the same period a year earlier.

Major technology companies — including Alphabet Inc., Amazon, Microsoft, and Meta — are expected to collectively spend around $700 billion on AI-related investments this year.

Analysts expect debt issuance to accelerate further in the second half of 2026 as hyperscalers continue expanding data centers, computing capacity, and AI systems.