The AI race is driving TMT debt issuance

AI Summary

The race to dominate AI platform infrastructure is driving increased debt issuance in the technology, media, and telecommunications sectors, expected to account for a large portion of the €485bn total credit issuance forecasted for 2026. An additional €55bn issuance is anticipated based on current year-to-date activity.

We’re seeing a race to dominate the AI platform infrastructure, with operators of large technology platforms ramping up investments. We expect technology, media, and telecommunications (TMT) issuers to account for a large share of the €485bn total credit issuance expected for 2026. Given year-to-date issuance, we expect the TMT sector to raise an additional €55bn ...