AI hyperscalers take 15% of new US debt

Five AI hyperscalers accounted for more than 15% of year-to-date US investment-grade debt issuance by early May, despite representing only 3% of the outstanding stock at the end of 2025, according to the Bank of England’s July Financial Stability Report. Bank of England governor Andrew Bailey separately warned G20 finance officials that frontier AI could change the speed, scale, and economics of cyber-risk across concentrated third-party providers, as The Guardian reports. Builders need to price provider concentration and financing shocks alongside tokens, the same infrastructure exposure tracked in AI’s three-trillion-dollar data-center buildout.