Goldman Sachs Asset Management Cuts AI Borrower Exposure Amid Record Debt Flood

Goldman Sachs Asset Management is pulling back from the biggest artificial-intelligence borrowers as a historic surge of corporate bond issuance from tech giants threatens to overwhelm market demand. Lindsay Rosner, head of multi-sector fixed income investing at the firm, said the group is now underweight on hyperscalers—the major cloud and AI infrastructure operators like Alphabet, Amazon, Meta, Microsoft, and Oracle—citing expectations that issuance will continue to accelerate. "We believe there will be a lot of hyperscaler issuance," Rosner said, noting that Goldman remains bullish on AI's long-term potential even as it adopts a more defensive posture on near-term credit valuations.