Technology & Internet: 2026 Credit Outlook
Robert Schiffman, Senior Global Technology Credit Analyst, discusses 2026 outlook for technical and supply considerations, performance trends and valuation views. Tech credit quality has never been stronger, and may continue on a stable-to-improving trajectory even as AI capex spending and debt issuance exceeds all-time highs. With considerable cash, cash flow and modest maturities ahead, the foundations of tech credit remain strong, even as investors recalibrate risk around AI spending and returns.