Major US technology firms issued over $120-billion in debt in 2025 to finance AI infrastructure. Since September, four leading companies have reportedly sold $90 billion in public bonds, with Alphabet issuing $25 billion, Meta $30 billion, Oracle $18 billion, and Amazon $15 billion. AI capital expenditure may reach $600-billion by 2027, and net debt issuance may hit $100-billion in 2026.