AI Is Driving Up Treasury Yields: ‘It Just Touches Everything’

Treasury yields have climbed to their highest levels in 25 years as multiple forces compete for market funding, with artificial intelligence-driven corporate borrowing emerging as an increasingly significant factor alongside traditional drivers of government debt costs.
Hyperscale technology companies including Amazon, Alphabet, and Nvidia have launched an unprecedented borrowing campaign to finance AI infrastructure, with investment-grade companies selling nearly $1.5 trillion in bonds this ye