Meta Platforms is preparing to enter Europe’s bond market for the first time this autumn as it finances expanding investments in data centers, chips and other AI infrastructure. The move reflects a broader shift among U.S. hyperscalers (large cloud infrastructure companies) toward euro and other foreign-currency debt as capital needs grow. The European Central Bank said in an August analysis that Alphabet, Amazon, Microsoft and Meta are increasingly issuing euro-denominated debt, with hyperscalers accounting for close to 10% of new euro bond issuance by non-financial companies. The ECB estimates the group could require more than $1 trillion in capital expenditure by 2028. Amazon and Alphabet have already completed record Canadian- and Australian-dollar bond deals, while major technology issuers are also active in sterling and Swiss franc markets. The borrowing wave is affecting other companies’ issuance timing and maturities, and the ECB has warned that sustained hyperscaler borrowing could make financing harder for other businesses. For Meta investors, the European debut highlights the growing importance of funding costs, alongside AI revenue growth, capital expenditure and margins, as the company seeks returns from its AI spending.