AI Bond Issuance Reaches $655B as CoreWeave Yield Tops 15%

AI investment faces pressure from bond markets, earnings and U.S. political risk. AI-related U.S. corporate bond issuance rose from $394 billion in 2025 to $655 billion by mid-October, while CoreWeave bonds issued at a 9.75% coupon now trade above a 15% yield. Alphabet posted negative free cash flow for a second straight quarter and its stock fell 13%, wiping out $500 billion in market value.