The Big OneRules & Regulators
Bank of England: global AI debt issuance already more than double 2025's total
The Bank of England's Financial Policy Committee said on September 30 that Morgan Stanley estimated global AI-related debt issuance at around $450 billion as of early September, more than double the total issuance in all of 2025. JP Morgan analysts estimated AI-related capital expenditure financed through debt issuance could total around $4.1 trillion between 2026 and 2030. The FPC said this debt issuance broadens the exposure of capital markets to developments in AI.
NoteThe FPC warned that a reassessment of AI earnings expectations could affect AI-related asset valuations and sovereign debt markets at the same time, so the risk from AI-linked credit runs beyond any single lender into the funding markets banks and insurers both depend on.