- Big credit players like DoubleLine, Oaktree and Pimco are buying debt tied to the AI boom — but they’re being picky and warn a credit bubble is likely, so it’s a high-reward/high-risk play.
- Tech giants and “hyperscalers” have already issued huge amounts of bonds (about $155B so far), and firms may spend roughly $5 trillion on AI-related capex over the next five years, driving massive borrowing.
- Data centers and long-maturity debt are the biggest worry—projects take years to build and can be quickly obsolete or overbuilt, so investors are favoring strong balance sheets or protective deal structures.
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