Meta’s Capex Lifts Tech Bond Issuance Forecast to $360B, Seals Nvidia AI Chip Pact
UBS raised its 2026 tech bond issuance forecast to $360B, citing capex increases at Meta and other hyperscalers that will boost corporate debt supply. Meta also sealed a multiyear Nvidia deal to deploy millions of Blackwell and Rubin GPUs plus Grace and Vera CPUs in its AI data centers.
1. UBS Raises Tech Bond Issuance Forecast
UBS lifted its U.S. tech investment-grade bond issuance forecast from $300 billion to $360 billion for 2026, representing one-fifth of its overall $1.8 trillion debt issuance outlook. The upgrade reflects announced capex hikes by hyperscalers including Meta, with aggregate hyperscaler spending now projected at about $770 billion and potential public debt issuance of $240 billion.
2. Meta and Nvidia Expand AI Infrastructure Partnership
Under the multiyear agreement, Meta will deploy millions of Nvidia Blackwell and Rubin GPUs along with Grace and Vera CPUs, expand Spectrum-X Ethernet networking and adopt Confidential Computing to enhance AI services like WhatsApp. Jensen Huang emphasized the collaboration across processors, networking and software, while Mark Zuckerberg highlighted its role in building advanced AI clusters for long-term research.