Bank of America: AI-related financing volume hit $344 billion in 2026, far exceeding the full-year total for 2025.

According to data from BofA Global Research, AI-related financing has reached $344 billion since the start of 2026, far exceeding the full-year 2025 total of $136 billion, with AI infrastructure financing accelerating significantly. In terms of financing structure, U.S. hyperscale cloud providers contributed $157 billion, non-U.S. hyperscale cloud providers $62 billion, data center project financing $51 billion, Nvidia and SpaceX-related financing $50 billion, and chip sector financing $23 billion, including the senior debt portion of the $35 billion APCHIP transaction. AI financing has grown gradually over the past few years, picked up notably in 2025, and climbed further in 2026. Hyperscale cloud providers, chip manufacturers, and data center developers are locking in computing power and infrastructure capacity at an unprecedented scale. Overall, the expanding financing volume signals that AI infrastructure demand remains highly visible in the medium to long term, with capital continuing to flow into computing power, chips, data centers, and other segments of the AI industry chain. However, the final return on capital and project execution will determine whether this round of large-scale capital expenditure can be sustained.