A $25 billion Nvidia offering and SpaceX's bond market debut helped push corporate debt issuance to unprecedented levels as AI spending reshapes capital markets
US investment grade bond issuance reached a June record as technology companies borrowed heavily to finance the artificial intelligence infrastructure boom.
Companies have sold about $175 billion of high grade bonds this month, according to data compiled by Bloomberg.
The total is roughly 60% higher than issuance during all of June 2025 and has surpassed the previous monthly record set in 2020.
Nvidia and SpaceX accounted for a large portion of the increase after each company completed a $25 billion bond sale.
Together, the two transactions represented nearly 29% of total investment grade issuance during the month.
The surge pushed June volume well above Wall Street dealer forecasts of approximately $130 billion.
Technology companies are increasingly turning to debt markets to fund the data centers, chips, power infrastructure and networking equipment required to expand AI services.
Investor demand has remained strong despite borrowing costs being significantly higher than during the previous June record in 2020, when interest rates were close to zero.
Tight credit spreads have helped reduce the effect of higher Treasury yields and kept financing conditions attractive for companies.
SpaceX received nearly $90 billion in orders for its $25 billion offering, while Nvidia’s sale was also expanded after attracting strong demand.
The two deals highlight investors’ willingness to finance companies viewed as major beneficiaries of the AI spending cycle.
Companies may also be accelerating borrowing plans because of concerns that the Federal Reserve could raise interest rates again as it focuses on reducing inflation.
Issuers often move forward with debt sales before expected rate increases to avoid locking in higher financing costs later.
Bloomberg Intelligence analyst Noel Hebert said June investment grade issuance could ultimately surpass $200 billion.
The strong month follows a record January and the second highest issuance volumes for the following three months.
US investment grade issuance has reached about $1.15 trillion so far in 2026, matching the amount sold over the same period in 2020.
Full year issuance reached a record $1.75 trillion in 2020.
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