JPMorgan Launches $25M CDS Basket Covering Amazon’s AI Debt; Air Street Raises $232M
JPMorgan launched a credit default swap basket in $25 million increments—$5 million per firm—to hedge debt of Amazon and four other AI-focused hyperscalers. London’s Air Street Capital raised a $232 million Fund III and counts Adept, sold to Amazon, among its successful AI startup exits.
1. JPMorgan Launches $25M CDS Basket for Amazon and Other Hyperscalers
JPMorgan Chase & Co. has introduced a listed credit default swap basket covering debt of Amazon and four other AI-focused hyperscalers, with trades in $25 million increments—$5 million per firm. The product caters to hedge funds seeking more-liquid tools to express bullish or bearish views on corporate health during a record borrowing spree for AI infrastructure.
2. Air Street Capital Raises $232M Fund III with Adept Sold to Amazon
London-based Air Street Capital closed its third fund at $232 million, increasing assets under management to $400 million and targeting $500,000–$15 million checks, with growth investments up to $25 million. Among its notable exits is AI startup Adept, acquired by Amazon, underscoring the e-commerce giant’s ongoing AI expansion.