US investment-grade bond issuance has reached new highs for three consecutive months, continuing at the fastest pace of issuance, as increased corporate spending on artificial intelligence infrastructure drives up borrowing demand. As of Monday, the issuance volume in August has reached $145.2 billion, surpassing the record for the same period in 2020. Record highs were also set in January, June, and July of this year, with three other months seeing the second-highest issuance volumes in history. This month's issuance was primarily driven by Alphabet's $25 billion in bonds. Since the beginning of the year, all eight transactions worth $25 billion or more have come from tech companies.