Morgan Stanley expects global AI-related debt issuance to reach nearly $570 billion by 2026. Large technology hyperscalers are driving this surge by using debt to finance massive infrastructure projects.
This trend marks a shift for tech giants who historically relied on internal cash flows for investments. AI-related debt issuance reached nearly $236 billion by the end of May 2026.
This volume represents a fourfold increase compared to the same period in the previous year. Morgan Stanley projects that hyperscaler capital expenditures could exceed $1 trillion in 2027. The bank is positioning itself to advise on and arrange these funding transactions.