# Five Hyperscalers Issued $218.1 Billion in Bonds Through Early October 2026 By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/45277 Published: 2026-10-31T01:35:58.000Z Updated: 2026-10-31T01:35:58.000Z Section: Investing > The total topped their $107.3 billion in full-year 2025 issuance. Nvidia single-name CDS trading reached $6.9 billion in the following six-month period. Five hyperscalers issued $218.1 billion in investment-grade bonds through early October 2026, more than in all of 2025, as credit-protection trading tied to AI companies also expanded. The five companies issued $107.3 billion in investment-grade bonds during 2025. The 2026 figure covers issuance through early October. Five-year credit default swap (CDS) spreads on Oct. 21 were 331 basis points for Oracle, 80 basis points for Amazon and 56 basis points for Microsoft. A CDS is a contract in which a buyer pays for protection against a specified credit event. Its spread measures the cost of that protection; trading volume measures activity in the contracts. Nvidia single-name CDS trading totaled about $640 million over the six months from Sept. 2025 through March 2026. It reached $6.9 billion in the following six-month period. Jigar Patel, Barclays director of credit research, described the increase at a Sept. 17 public discussion: “In the most recent six-month period, that ballooned to 6.9 billion.” The Nvidia total covers a six-month period for one company. It is a different measure from [weekly AI-linked CDS trading that topped $9 billion in September](). Bond issuance, CDS spreads and CDS trading volumes describe separate parts of the credit market: borrowing through bonds, the cost of credit protection and activity in protection contracts, respectively. ## Links in this article - [weekly AI-linked CDS trading that topped $9 billion in September](https://www.tokenpost.com/news/investing/35539)