#MicrosoftMeta40BBonds
About MicrosoftMeta40BBonds
Microsoft and Meta priced $25B and $15B in dollar bonds, respectively. Microsoft returned to the US dollar bond market for the first time since 2017; Meta returned after about six months and made its euro bond debut, raising ~€9B with ~€53B in orders. As AI infrastructure spending expands, Oracle’s $20B stock and bond offerings and Alphabet’s ~€6B bond financing also highlight Big Tech’s growing use of capital markets.
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The continuous sharp decline in the US stock market stopped last night, with tech stocks broadly rising. Storage chips, optical communications, AI hardware, semiconductors, advanced packaging, and others collectively strengthened. Strangely, Apple fell against the trend.
Aehr recently dropped from 147 to 65, a 56% decline in three months. Last night, the stock gapped up, rose steadily during the session, then surged sharply in the last minute before the close, ultimately soaring 26.50%, making
Meta drawing roughly $58B of orders for a $15B bond sale shows investors still accept its AI spending case. Yet the 30-year spread, about 90 bps wider than in April, says that confidence now carries a higher price. Demand can fund the buildout; it cannot prove the projects will produce cash flows that outrun the debt burden.
#MetaIssues15BInBonds
Euro-denominated Meta and Google Bonds are higher rated than those of France 😳
European savers want more Euro-denominated bonds than anyone is issuing.
Surely, there's a solution to the lack of AI data center and power build out in Europe if we can figure this out.
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Meta’s first EUR bond drew a record €53bn of orders, but Meta sold €9bn across six bonds on Wednesday, the longest run in 38 years.
Alphabet sold €6bn on Monday into more than €17bn of orders.
The European debt market has far more demand than supply, while the US seems to be the opposite.
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The US has one Treasury market, with about $32tn of debt held by the public. Europe has a separate bond market for each government, with different ratings, plus joint EU bonds worth about €857bn, roughly 3% of the US figure.
The EU27 makes up 71% of the US debt market by size, but often in different currencies at difference prices.
ECB chief economist Philip Lane said in April that the euro area is short of “safe assets”, the bonds investors treat as close to risk-free. He added that EU bonds still trade less easily than French or German debt.
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The EU’s own €10bn sale in October drew around €160bn of orders.
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Two things temper the headline number:
1. Investors ask for more bonds than they expect to get, so order books overstate real demand.
2. Capital rules still make a Bund cheaper for banks and insurers to hold than a Meta bond.
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But there's a giant flashing sign here:
European savings are helping pay for American data centers, in EUR, because Europe issues too few of the bonds its savers want.
SURELY we could issue European debt for sovereign European data centers?!
If the EU wants that money to fund European projects, it has to issue far more of its own long-dated debt.
Microsoft and Meta are both investing heavily in the future of AI.
Their bond-related headlines highlight another side of the AI race: financing the infrastructure behind it.
Data centers, chips and energy require enormous capital.
The question for investors is whether future AI revenue can justify today’s spending.#SonyQ2ProfitUp45%
Market Chatter: Meta's Euro Bond Trades Higher on Debut
06:08 AM EST, 11/05/2026 (MT Newswires) -- Meta Platforms' (FB2A.F) debut euro bond rose during the first day of trading, Bloomberg News reported Thursday.
The Facebook parent raised 9 billion euros from the offering, which was priced in six tranches, with maturities ranging from over four years to over 38 years, the news outlet had reported on Wednesday.
Meta did not immediately respond to a request for comment from MT Newswires.
(Market Chatter news is derived from conversations with market pr
The market ripped today. Some names didn’t get the memo.
Tim Knight: $CAT down 5.5% and now off half its value from the peak. Peabody gapped down hard, off 17%.
For a stock that’s supposed to be an AI infrastructure winner, Caterpillar’s chart has been a catastrophe.
