How AI Debt Is Reshaping Credit Markets

Goldman Sachs Research estimates that AI-related bond issuance has reached nearly USD 500 billion so far in 2026, underscoring the growing role of credit markets in building out AI infrastructure. Amanda Lynam, Head of Credit Strategy Research, and Zach Ablon, Head of Credit Sales for Global Banking & Markets, discuss why cash-rich tech giants are turning to bond markets, the potential risks for institutional investors, and how alternative funding channels such as private credit, infrastructure funds, and high-yield markets are filling the gap.