News linked to both this project and an event.
According to TechFlow Research, JPMorgan's US stock strategy report on July 20 estimates that global AI-related capital expenditure will approach $870 billion in 2026, up 77% year-on-year, with hyperscalers contributing about $750 billion. In 2027, growth rates remain high: Google +54% (approx. $300 billion), Amazon +42% (approx. $300 billion), Meta +42% (approx. $200 billion). Bond financing by the five major tech giants rose from $40 to 50 billion in 2022 to about $190 billion in 2026, and Google completed $85 billion in equity financing in June.
According to Reuters' analysis of US President Trump's latest financial disclosure documents, his stock and bond holdings in 2025 have increased from about $703 million to $2.6 billion, at least four times the 2024 level; during the same period, Trump family crypto projects brought him over $1.4 billion in income. Reuters cited multiple digital asset experts stating that the disclosure shows although Trump publicly supports crypto assets, his personal wealth allocation still clearly leans towards traditional financial assets. Previously, Reuters reported that retail investors in Trump-related crypto projects have cumulative losses of about $2.3 billion.
Trump received over $1.4 billion in income from crypto projects led by his family. Reuters analysis stated that the related proceeds were subsequently quickly allocated to traditional stock and bond markets. By the end of 2025, the valuation of his traditional stock and bond portfolio rose to approximately $703 million to $2.6 billion, representing a significant increase compared to the end of 2024.
Apollo Chief Economist Torsten Slok issued a risk warning, stating that major AI companies are heavily borrowing for industrial expansion, with the total scale of related bond issuance estimated to reach $700 billion. This massive new supply is diverting market funds, creating a significant crowding-out effect on U.S. Treasuries and other credit products.Torsten Slok stated that if the scale of debt financing for AI infrastructure continues to expand, the overall capital allocation logic in the bond market will undergo a restructuring, persistently suppressing demand for U.S. Treasuries while exerting medium- to long-term pressure on the liquidity of the entire credit market.
Citrini Research, the institution behind the "AI Doomsday Report," stated that bond issuance by hyperscalers in 2027 to 2028 could be more than double current market expectations, primarily to support the construction of AI data centers.Citrini Research pointed out that AI-related debt issuance is expected to approach $570 billion in 2026, while hyperscalers' capital expenditures have already exceeded $600 billion. Amid the continued push for AI infrastructure development, these companies are gradually shifting from relying on cash reserves to raising more funds through the bond market.
According to the Seoul Economic Daily, KB Kookmin Bank announced the issuance of a USD 100 million blockchain-based digital bond in the Hong Kong market, marking the first time a Korean bank has applied blockchain technology to an actual foreign-currency financing transaction. This issuance reduces the settlement cycle from the traditional five business days to three business days, helping streamline processes and lower counterparty settlement risk. The two-year USD digital bond was issued privately, with HSBC serving as the sole bookrunner; the issuance process was completed via HSBC’s digital asset platform, Orion.
According to the latest forecast from Morgan Stanley, global bond issuance related to artificial intelligence (AI) could approach $570 billion in 2026, more than doubling from last year's figure.Given that capital expenditures by hyperscalers are expected to surpass $1 trillion by 2027, Morgan Stanley believes the pace of bond issuance will accelerate further in the second half of this year.As of the end of May this year, approximately $236 billion in AI-related debt financing had been issued globally, roughly four times the volume seen during the same period last year.As tech companies continue to escalate their spending on AI, which increasingly exceeds what their own profitability can cover, debt financing is becoming an increasingly important source of capital for them.Morgan Stanley noted that to diversify their funding channels, hyperscalers are increasingly issuing bonds outside of the US dollar market. For instance, giants like Google's parent company Alphabet and Amazon have issued substantial euro-denominated bonds in the European market. (Cailianshe)