Nvidia is joining the AI debt financing boom: Nvidia, NVDA, sold $25 billion of investment-grade bonds on June 15th, its first debt offering since 2021. This ranks as the 2nd-largest US high-grade bond sale of 2026. The deal attracted ~$85 billion in investor orders, more than 3 times the offering size, leading the company to increase the offering from an initial target of ~$20 billion. This follows Alphabet, GOOGL, Amazon, AMZN, Meta, META, Oracle, ORCL, and Salesforce, CRM, collectively raising ~$132 billion in investment-grade bonds this year alone. Debt is becoming a key source of AI infrastructure funding.(The Kobeissi Letter)