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Microsoft, Alphabet, Amazon, Meta and Oracle raised a combined $326 billion of debt in 2026, roughly three times last year, according to S&P Global Market Intelligence figures cited by TechCrunch.
Alphabet, Amazon and Meta all reported negative for the latest quarter or year, and Bloomberg counts more than $3 trillion of spending commitments across the five.
Bank of America told clients Friday that Big Tech bonds now offer more opportunity than the stocks.
The five biggest AI spenders have borrowed $326 billion this year, triple 2025
Microsoft, Alphabet, Amazon, Meta and Oracle raised a combined $326 billion of debt in 2026, roughly three times last year, according to S&P Global Market Intelligence figures cited by TechCrunch. Alphabet, Amazon and Meta all reported negative free cash flow for the latest quarter or year, and Bloomberg counts more than $3 trillion of spending commitments across the five. Bank of America told clients Friday that Big Tech bonds now offer more opportunity than the stocks. SourcesBBB
Sources
- BCracks are emerging in the AI spending boom (TechCrunch)techcrunch.com
- BBig Tech holds $3 trillion in spending commitments for AI boom (Bloomberg)bloomberg.com
- BBig Tech bonds, not stocks, offer more opportunity right now, BofA says (CNBC)cnbc.com
This story ran in the Afternoon Brief of October 30th 2026.