JPMorgan Chase raises technology bond issuance and expects the issuance of bonds this year to exceed US$500 billion

On August 8, JPMorgan Chase predicted that the issuance of technology-related corporate bonds this year will exceed US$500 billion. The bank raised its forecast for debt issuance in the technology, media and telecommunications industries in 2026 to US$540 billion from the previous US$450 billion, citing the fact that increased spending by large technology companies is leading the artificial intelligence investment cycle. The team led by JPMorgan strategist Erica Speer said in a report on Friday that chip-backed financing will become the "next major frontier" to support AI infrastructure construction, and its scale may be "expanded to trillions of dollars" by the end of the decade. JPMorgan Chase has identified seven investment-grade data center financing opportunities in addition to the six projects that have been funded so far, four of which are expected to come from Oracle and OpenAI. The bank expects MetaPlatforms to return to the bond market after reporting third-quarter earnings, while Microsoft is seen as the "biggest uncertainty" and could raise money from bond investors for the first time since 2017.