The pace of growth in the U.S. is leaving Europe “in the dust” according to a recent report from ING which predicted data center investment in the U.S. could be fivefold higher. Growth is also increasingly coming from the Middle East, as the wealthy Gulf States look to position themselves as the next global AI hub.
Debt issuance nearly doubles in 2025
Debt issuance nearly doubled to $182 billion in 2025, up from $92 billion last year, according to the data from S&P. It noted that Meta and Google were among the most active issuers, with Facebook’s owner raising $62 billion in debt since 2022 — nearly half of that total was issued in 2025 alone.
Google and Amazonraised $29 billion and $15 billion, respectively, according to the report, which noted that hyperscalers are increasingly working with AI labs to buy assets to finance construction in an “unusual arrangement” that underscores the significant capital required to meet demand.