On November 2, Nikkei reported that as AI hyperscale cloud service providers trigger a global financing boom, overseas companies and institutions have begun turning to Japanese investors for funding support. According to Daiwa Securities, foreign entities issued a record volume of yen bonds between April and September this year, with total yen bond issuance in Japan and overseas reaching approximately 2.5 trillion yen (about $15.9 billion), up 160% year on year and surpassing the previous record of 2.1 trillion yen set between October 2018 and March 2019. Google parent company Alphabet issued yen bonds for the first time in May, totaling 576.5 billion yen—a record high—with proceeds expected to fund large-scale AI infrastructure investment. A source at a major securities firm said most overseas issuers will convert the funds raised from yen bonds into currencies such as the dollar and euro.