The race for artificial intelligence is increasingly being financed by debt, and that may make credit more expensive for everyone. Tech giants are borrowing like there's no tomorrow to build data centers, buy chips, and launch new models, according to the Aipost (Telegram) channel.

Investors have already injected about $500 billion in AI-related corporate debt this year. A Goldman Sachs report, cited by CNBC TV18, estimated that companies globally have raised about $489 billion in AI-related debt and loans so far in 2026, well above the $322 billion estimated for all of 2025.

Amazon, Google, Meta, Microsoft and Oracle could collectively borrow more than $1 trillion in the coming years. So-called "hyperscalers" — the largest data center builders — have doubled their debt load in the past five years, adding about $350 billion in new obligations, according to data compiled by Bloomberg.

Big Tech's borrowing has already driven corporate issuance to record levels in countries such as the United Kingdom, Canada, Australia, and Switzerland. Still, there is only a limited amount of capital available. If tech companies continue to compete with governments and other companies for investors' money, everyone may end up paying more to finance themselves.

That pressure is already being seen in U.S. bond markets: the yield on the 10-year Treasury note hit its highest level since 2007, topping 5.1% in September, its highest in 19 years (CNBC and CNN). Rising government and corporate issuance—driven by AI spending—is among the main drivers.

And those rates don't stay on Wall Street: They can affect mortgages, car loans, and credit cards. Even retirement savings could get in the way, as pension funds and insurers are big buyers of corporate debt, including that issued by these tech companies. The market is still wondering if the bet on AI will end up justifying its huge price tag (CNBC TV18).

Source: Aipost (Telegram).

Sources: Bloomberg · Bloomberg (Big Tech Doubles Debt) · CNBC TV18 · CNBC · CNN Business · Kitco News · Hindustan Times · Markets Insider · BIS Quarterly Review · Aipost (Telegram). Cover: Maxim Hopman's value graph, downloaded from Unsplash (Unsplash License).