J.P. Morgan predicts that technology-related corporate bonds will be issued more than 500 billion US dollars this year. The bank raised the 2026 technology, media, and telecommunications sector debt issuance forecast from US$450 billion to US$540 billion, on the grounds that increased spending by large technology companies is leading the AI investment cycle. A team led by J.P. Morgan strategist Erica Spear reported on Friday that chip-backed financing will become the “next major frontier field” to support AI infrastructure construction, and that by the end of this decade, its scale may “expand to trillions of dollars.” J.P. Morgan has identified seven investment-grade data center funding opportunities in addition to the six projects currently funded, four of which are expected to come from Oracle and OpenAI. The bank expects Meta Platforms to return to the bond market after announcing its third-quarter earnings report, while Microsoft is seen as the “biggest uncertain factor” and may be financing bond investors for the first time since 2017.

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