Investment-grade bond issuance by the five US hyperscalers (Alphabet, Amazon, Meta, Microsoft, Oracle) in 2026 to 20 August, all currencies
$219B (incl. ~$62B non-USD)observed
| Value kind | observed — Reported measurements, counts, and specifications keep the precision and scope stated by their source; an exact specification is not treated as a range. |
|---|---|
| Scope | Investment-grade bonds issued in 2026 to 20 August by Alphabet, Amazon, Meta, Microsoft and Oracle, as counted by J.P. Morgan Asset Management; includes about $62B equivalent in EUR, CAD, CHF, GBP and JPY. Excludes leases: disclosed data-center lease obligations of about $1.4T, about $1.1T of them not yet on balance sheet because leases are recognized at commencement, and about $1.5T of unconditional purchase commitments. |
| Caveat | Hyperscaler spreads widened about 30 bp year to date versus about 2 bp for the USD IG index; J.P. Morgan AM estimates the same companies could issue about $300B more IG bonds over the following year (a projection). |
| As of | 2026-08 |
| Source | J.P. Morgan Asset Management, On the Minds of Investors (Jorn Veeneman), 20 August 2026 · Paragraph on year-to-date hyperscaler issuance ('USD 219 billion ... including USD 62 billion equivalent in non-USD currencies'); lease obligations and purchase commitments paragraph |
| Review | checking…review by 2027-02-20 · fast cadence |
| Recorded changes | last 2026-10-19 |
| Claim id | hyperscaler-ig-bond-issuance-2026-ytd |
Where the guide uses it
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