Meta Platforms Inc. raised $15 billion from a US dollar bond sale, drawing solid demand as it became the latest Big Tech company offering juicy yields to entice buyers that are growing skeptical over the industry’s massive bet on artificial intelligence.

For almost three months, Big Tech companies didn’t borrow in the US bond market after they spooked investors with a debt binge in the hundreds of billions of dollars. Now they’re flooding in again.

S&P Global Ratings took an early step toward potentially downgrading Meta Platforms Inc.’s credit rating within the next two years, amid growing pressure on the tech company’s balance sheet stemming from elevated spending tied to artificial intelligence.

Microsoft Corp.’s mega $25 billion bond offering got a red-carpet reception. That doesn’t mean investors will be as welcoming when the next Big Tech borrower comes along.

Banks are delaying plans to offload part of a $15 billion loan to fund a data center tied to Anthropic PBC in Texas, after the state put a hold on new projects while assessing risks to its power grid.

Banks are planning to sell as much as about $21 billion of high-grade bonds as soon as early next year as part of a $63 billion funding package that Broadcom Inc. has pulled together to help finance chips for AI developer Anthropic PBC.

Anthropic PBC warned it may need to seek more financing sooner than the artificial-intelligence company had anticipated while saying little about its potential path to an investment-grade credit rating in its closely watched IPO filing.

Global credit markets are flashing the biggest risk-off signals in more than a year, as investor concerns about technology companies’ artificial intelligence borrowing and rising oil prices are mounting.

Moody’s Corp. posted quarterly results that fell short of average analyst estimates, hurt by weaker revenue in its ratings business as rising yields weighed on corporate bond sales, but its shares steadied on Wednesday after dropping earlier in the day.

Gauges of credit risk for some of the biggest technology companies hit fresh highs on Tuesday, as investors brace for an onslaught of post-earnings bond sales they fear may overwhelm already overloaded debt markets.

For the past few years, the largest US technology companies have been in a costly race to develop advanced artificial intelligence systems while at the same time providing computing power to a burgeoning field of startups. To chase these goals, they have radically changed how they finance their growth. Long reliant on rich revenues and share price increases, Alphabet Inc.’s Google, Meta Platforms Inc. and other tech giants now are borrowing heavily to build the technology that makes chatbots run

Morgan Stanley has invited banks to buy pieces of a $3 billion loan that helps fund Royal Caribbean Cruises Ltd.’s purchase of a 50% stake in Sandals Resort International, according to people with knowledge of the matter.

As Paramount Skydance Corp. and Oracle Corp. vault into the ranks of corporate America’s biggest borrowers, their links to the same man — billionaire Larry Ellison — are starting to stir angst on Wall Street.

Paramount Skydance Corp. has been talking to investors for months about the debt it’s selling to fund its Warner Bros. Discovery buyout, only to find that the longer it’s been forced to talk, the more it has to pay.

Corporate bonds have been relatively resilient amid a global government bond selloff, but the strength may not last.

The debt of some technology behemoths is starting to look enticing after a borrowing binge to bankroll the artificial intelligence buildout battered valuations, according to DoubleLine’s Robert Cohen.

Wall Street dealers were already bracing for a potential record in September for high-grade US corporate bond sales, and recent surging yields may give the blue-chip companies even more reason to borrow now before funding costs rise further.

Bond traders have ramped up measures of credit risk associated with Broadcom Inc. as it backstops mega financing packages for the buildout of artificial intelligence.

Companies looking to finance data center projects are increasingly turning to junk bond investors to help them raise billions of dollars, even for debt that is investment-grade.

Blackstone Inc.-backed QTS Realty Trust Inc. offered junk-like yields on a $3.9 billion high-grade bond to fund the construction of a Microsoft Corp.-linked data center in Georgia. It looks to have worked as the deal racked up demand of about six times that amount.