Big Tech credit default swap spreads surge on concerns about AI capex financing costs, with Oracle's 5-year CDS hitting record 215 basis points.
Macro & Markets ·
Big Tech credit default swap spreads have widened substantially this year amid concerns over AI infrastructure financing costs. Oracle's 5-year CDS reached a record 215 basis points, up 70 basis points year-to-date and marking the steepest increase among major technology firms, followed by Broadcom at 48 basis points higher. Meta, Nvidia, Amazon, and Alphabet have each seen their spreads climb between 29 and 39 basis points, with Meta's 95 basis points and Nvidia's 82 basis points representing their highest levels since those instruments began trading in late 2025. Big Tech has raised approximately $200 billion through corporate bond issuances so far in 2026, nearly double the prior year's full total.