The frenzy comes on the heels of SpaceX’s blockbuster bond deal, which left many institutional investors empty-handed and hungry for the next big tech debt issuance. AdvertisementEarlier in 2026, Alphabet issued a multi-tranche bond of around $20 billion that saw demand significantly exceed supply. Elon Musk’s rocket company launched its inaugural $25 billion investment-grade bond offering in June 2026, pulling in somewhere between $85 and $89 billion in orders. That deal was so oversubscribed that many major institutional investors got allocated far less than they wanted, or nothing at all. The broader dynamic at play is that AI-driven bond issuance across major tech firms is expected to substantially reshape the 2026 investment-grade supply landscape.