On August 8, JPMorgan predicted that the issuance of technology-related corporate bonds would exceed $500 billion this year. The bank has raised its debt issuance forecast for the technology, media, and telecommunications sectors in 2026 from $450 billion to $540 billion, citing increased spending by major tech companies leading the artificial intelligence investment cycle. In a Friday report, the team led by JPMorgan strategist Erica Spiell noted that chip-backed financing would become the "next key area" driving AI infrastructure construction, with its scale potentially reaching trillions of dollars by the end of this decade. JPMorgan also identified seven investment-grade data center financing opportunities, four of which are expected to come from Oracle and OpenAI. Additionally, the bank expects Meta Platforms to return to the bond market after its third-quarter earnings announcement, while Microsoft may tap bond investors for financing for the first time since 2017, seen as the "biggest wildcard."