JPMorgan Sees Half-Trillion-Dollar Tech Bond Sales in 2026

JPMorgan Chase & Co expects technology bond sales to exceed half a trillion dollars in 2026, driven by hyperscalers' growing appetite for capital to fund artificial intelligence (AI) buildouts.

The bank has raised its forecast from $450 billion to $540 billion, citing increased spending by megatech players leading the AI investment cycle. JPMorgan strategists see chip-backed financing as 'the next major frontier' for funding AI infrastructure buildouts, potentially extending into the trillions by the end of the decade.

Hyperscalers such as Meta Platforms Inc and Microsoft Corp are expected to tap bond investors, while Oracle Corp is seen as a standout among its peers due to its relative value. Despite concerns around investor fatigue, JPMorgan remains 'overweight' on Oracle.