Global corporate bond issuance in the first half of 2026 reached a record high of 3.6813 trillion dollars, a 10% increase from the same period last year and 1.5 times the scale of 2022, according to Nikkei’s analysis of LSEG data. The surge is attributed to the overheating AI investment boom, with big tech firms leading the rush to secure funds. Amazon was the largest issuer, issuing 36.8 billion dollars in dollar-denominated bonds in March, with total corporate bond issuance reaching 54 billion dollars. Meta and NVIDIA each issued around 25 billion dollars in corporate bonds. AI-related corporate bond issuance this year has reached 220 billion dollars, per Bank of America. The capital expenditure of Amazon, Microsoft, Alphabet, and Meta from January to March exceeded their cash flow from core businesses for the first time since 2020. Meta plans to increase capital expenditure to up to 145 billion dollars this year. The Bank for International Settlements analyzed that if the AI boom fades, it could threaten financial system stability, with the bond market particularly vulnerable. Goldman Sachs President John Waldron stated that the AI market is a winner-takes-all structure, giving larger companies an advantageous position in the AI investment race.