AI-driven debt boom hits record high as US high-grade bond issuance soars to $175 billion in June

Golden Ten Data reported on June 25 that US investment-grade bond issuance set another record in June, mainly driven by strong investor demand and large-scale borrowing related to the surge in artificial intelligence spending. According to data compiled by Bloomberg, the issuance volume this month has reached $175 billion, up 60% from the full-year level in June 2025, surpassing the previous historical peak set in 2020—when borrowing activity surged in the near-zero interest rate environment following the COVID-19 pandemic. The rapid pace of bond issuance highlights the profound impact of tech companies financing AI infrastructure construction on the debt market. NVIDIA and SpaceX each issued $25 billion in high-rated bonds this month, pushing total issuance far above dealers’ previous estimates of around $130 billion for June.