AdvertisementMeta’s recent $12.5 billion bond offering for a Texas data center carried notably higher yields than Meta’s comparable bond issuance earlier in 2025. UBS projects that new tech debt supply could rise to $900 billion by 2026. For credit market investors, the flood of tech debt creates a saturation problem. That dynamic pushes yields higher across the board, meaning even the strongest borrowers pay more than they otherwise would. Widening CDS spreads and higher yields on new issuances are the market’s way of saying it’s getting nervous.