November 6 news — With Democrats securing a clear election victory, the market anticipates that the United States may tighten regulation of the artificial intelligence (AI) industry and data center construction. However, Michael Krauwit, economist and portfolio manager at ICM Investment Bank, noted in a report that a genuine shift in U.S. AI policy direction is unlikely, and hyperscale cloud service providers are expected to continue adhering to their existing investment plans for the time being. Krauwit said hyperscale cloud service providers are an important source of long-term bond supply. Driven by this issuance trend, U.S. tech giants have become a unique group of issuers in the investment-grade bond market over the past two years. For this group, the traditional market correlation between credit ratings and bond spreads applies only to a limited extent.