Big Tech Raises $48 Billion in European Bond Markets to Fund AI Boom
Big Tech companies have raised $48 billion in European bond markets this year to finance the artificial intelligence boom, while their share of bond sales denominated in Swiss francs and British pounds has climbed from zero in 2025, according to figures cited by Coin Bureau from Apollo.
The shift is particularly pronounced in the Swiss franc market, where Big Tech's share of bond sales rose from 0% in 2025 to 22% this year. In sterling-denominated bonds, the sector's share increased from 0% to 10%, exceeding its 8% share of the US bond market.
The figures point to a growing role for European debt markets in financing major technology companies' AI-related spending. European Central Bank officials have warned that the borrowing trend could be the beginning of a much larger wave of financing, describing it as potentially "merely the start of a financing wave of unprecedented proportions."
Big Tech Expands Its European Bond Market Presence
The $48 billion raised in European bond markets reflects the scale of Big Tech's financing activity this year as companies seek funding for the AI boom. The reported figures also show a notable change in the composition of bond issuance across different currencies.
In Swiss francs, technology companies accounted for 22% of bond sales this year, compared with 0% in 2025. Their share of sterling bond sales reached 10%, also rising from 0% in the previous year. The sterling figure was higher than Big Tech's 8% share in the US market, according to the data cited by Coin Bureau.
These percentages measure Big Tech's share of bond sales in the respective markets. They do not, by themselves, establish how much each company borrowed in each currency or how the proceeds were allocated among individual AI projects.
AI Financing Could Increase Further in 2027
Apollo forecasts that Big Tech's financing will rise by another 25% in 2027. The projection suggests that the funding requirements associated with the sector's AI expansion could continue to grow, although the figure is a forecast rather than a confirmed borrowing total.
The warning from European Central Bank officials adds a note of caution to the financing outlook. Their characterization of the current trend as potentially the beginning of an unprecedented financing wave underscores the scale of the borrowing activity attracting attention from financial policymakers.
The figures shared by Coin Bureau identify three key measures of the trend: $48 billion raised in European bond markets this year, a rise in Big Tech's Swiss franc bond-sales share from 0% in 2025 to 22%, and an increase in its sterling share from 0% to 10%. Apollo's forecast points to a further 25% increase in Big Tech financing in 2027.
Writer: Victoria HaleTechnology & Blockchain WriterVictoria Hale writes about blockchain technology, digital infrastructure, and the intersection of emerging technologies with finance. Her articles explore how new protocols and systems are shaping the evolving digital economy.She prioritises clarity and accuracy when explaining technical developments to a general audience.
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