The Indicator from Planet Money · Wednesday, September 16, 2026
Mega tech companies like Microsoft, Nvidia, and Amazon are borrowing hundreds of billions of dollars to finance the build-out of AI data centers. According to Vanguard, the five hyperscalers sold over $90 billion in bonds last year and have already issued more than $130 billion in 2026. This substantial borrowing is reshaping the bond market and could impact individual savings invested in bond funds.
“Tech giants are borrowing hundreds of billions of dollars to finance AI data centers. If your 401k has money invested in a US bond fund, your savings could be fueling the build out.”
“And they're not just waiting gently into the bond market. According to Vanguard, the five hyperscalers sold more than $90 billion in bonds last year. And they've already sold more than $130 billion so far in 2026.”
“For the corporate bond market for a build out. These numbers are truly staggering.”