Citadel Securities expects chipmakers and AI companies to raise more than $500 billion across public and private credit markets by 2028. Aug. 3, 2026Technology companies could issue more than $500 billion of debt through public and private markets by 2028 to finance the chips powering artificial intelligence data centers, according to a Bloomberg report citing Citadel Securities. The projected borrowing would equal more than 5% of the Bloomberg US high grade bond index by 2028, according to Jeff Eason, Citadel Securities’ head investment grade desk analyst. That total remains well below the more than $250 billion in debt Citadel estimates chipmakers alone could issue during 2028. Citadel Securities expects the borrowing wave to influence credit spreads, portfolio construction and capital allocation across the broader AI industry.