BREAKING: Technology firms now account for a record 8.3% of the US high-yield corporate bond market. This percentage has risen +2 points since 2022, reflecting a surge in tech sector debt issuance. Furthermore, tech accounts for a record 10.3% of the US investment-grade corporate bond market. The technology sector also now accounts for 18% of total corporate debt issuance so far in 2026, the largest proportion on record. This comes as Amazon, AMZN, Meta, META, Alphabet, GOOGL, and Oracle, ORCL, have issued a combined $159 billion in bonds year-to-date to fund AI infrastructure. Big Tech is taking on record levels of debt for AI.(The Kobeissi Letter)