Meta Platforms Inc. (NASDAQ: META) is preparing to issue bonds in Europe for the first time this autumn, according to a recent report. The company is shifting its borrowing strategy to include euro-denominated debt as it continues to invest heavily in artificial intelligence infrastructure.
The move is part of a broader trend among U.S. technology companies, known as hyperscalers, which are increasingly looking beyond the U.S. dollar market to finance their expansion. Meta is expected to join competitors like Alphabet Inc. (NASDAQ: GOOGL, GOOG), Amazon.com Inc. (NASDAQ: AMZN), and Microsoft Corp. (NASDAQ: MSFT) in tapping global capital markets.
The European Central Bank (ECB) has noted this shift, estimating that hyperscalers accounted for nearly 10% of new euro bond issuance by non-financial companies. The central bank projects that these companies could require more than $1 trillion in capital expenditures by 2028, necessitating the diversification of funding sources.
Meta is not the only major technology company expanding its global debt footprint. Amazon recently sold C$14 billion (~$9.88 billion) of bonds in Canada, while Alphabet completed a record A$5.5 billion (~$3.87 billion) deal in Australian dollars. Both companies have also been active in sterling and Swiss franc markets.
According to the Financial Times, the scale of these bond sales is beginning to influence the mechanics of the broader credit market. Some issuers outside the hyperscaler group are adjusting their own borrowing strategies, such as shortening maturities or avoiding windows when major technology companies are selling bonds. The ECB has also warned that a sustained increase in hyperscaler borrowing could eventually make financing more difficult for other companies if investors have to absorb an increasingly large supply of technology debt.
