Nvidia, SpaceX Drive US High-Grade Bond Sales to a June Record

US investment-grade bond sales reached a record $63.5 billion in June, surpassing the previous monthly high set in April. This surge was significantly driven by demand from investors eager to allocate capital and by substantial borrowing from companies investing heavily in artificial intelligence infrastructure. Nvidia, a key player in AI chip manufacturing, issued $10 billion in bonds, marking its largest offering to date. SpaceX also contributed to the record, raising $4.9 billion in its debut investment-grade offering. The strong performance of the market indicates robust investor appetite for corporate debt, even amidst broader economic uncertainties. This trend highlights the significant capital requirements associated with the ongoing AI revolution and the willingness of companies to tap debt markets to fund these ambitious projects. The issuance activity in June demonstrates a strong confidence in the long-term growth prospects of the AI sector and the companies at its forefront.