Six U.S. companies, including Amazon and Uber Technologies, completed European bond offerings on Wednesday local time, the highest number of U.S. issuers absorbed by the European market in a single day. Amazon raised approximately £2.5 billion ($3.4 billion) in its first sterling bond sale, with maturities ranging from three to 19 years, while Uber Technologies made its debut in the euro market. U.S. corporate issuance in European debt markets had already reached €149 billion ($173.4 billion) this year, nearly matching the full-year record set in 2025. The surge is being driven by heavy artificial intelligence infrastructure spending, which has crowded the U.S. dollar bond market and encouraged hyperscale technology companies to diversify their funding. Amazon has said its AI-related capital expenditure will reach $220 billion in 2026, mainly for Amazon Web Services, while the combined 2026 investment of Alphabet, Meta, Amazon and Microsoft has exceeded $700 billion. European markets offer deep liquidity, lower headline borrowing costs for high-grade issuers and, in some segments, more attractive valuations, although currency hedging can largely erase the rate advantage. Despite the record U.S. issuance volume, its share of Europe’s investment-grade bond market has increased by less than one percentage point since early 2025 because European companies are also expanding supply. Analysts expect AI-related issuance and other borrowing pressures to remain elevated, testing the market’s ability to absorb debt and potentially eroding Europe’s valuation advantage.