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   Big banks love AI
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   Plus: AI conversations could end up in court.
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          Friday, April 17, 2026
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          Big banks are cashing in on the AI boom. Earnings season is showing how
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          Earnings season has offered the clearest picture yet of which sectors of the economy are benefitting from the historic AI capex binge. Banking, as
it happens, is not least among them.
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          Debt has been big banks' easiest way in. Major tech companies have announced more than $700 billion in capital expenditures for 2026 alone — an eye-watering 70% increase over last year's historic numbers that cash on its own could not possibly cover. Instead, bond markets have stepped in, and they are now growing at a similarly impressive year-over-year rate.
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          On their own, the five major AI hyperscalers issued $121 billion in U.S. corporate bonds in 2025, far
surpassing the $28 billion average in each of the previous five years. With estimates for 2026 falling somewhere between $175 billion and $300 billion, the question is whether the market will grow a mere 50% or nearly triple.
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          Of course, someone has to underwrite those bonds, trade them, advise on deals, and manage the resulting assets.
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                            The banks. They always get their cut
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                           <!--<![endif]-->
                           <!--[if mso]><a 
href="https://www.ne16.com/t/10637772/222404108/9605330/1/1009235/?abb9e380=NGYzZmQyODYtMmZhOS00YzdjLWFkYzktMzQyOGNhZmI3ZDBl&f5d63f87=REIlMjAwNC0xNyUyMCUyOFVTJTI5JTIwLSUyMExJTkstVEVTVA&x=a946474f" target="_blank" style="-webkit-border-radius: 6px; -moz-border-radius: 6px; border-radius: 6px; color: #FFFFFF; text-decoration: none; font-family: Arial; font-size: 16px;  border: none; display: block; ">The banks. They always get their 
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                          <td align="center" bgcolor="#105C8E" style="text-align:center;-webkit-border-radius:6px;-moz-border-radius:6px;border-radius:6px;font-size:16px;font-family:Arial,Helvetica,sans-serif">
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                           <!--[if mso]><a href="https://www.ne16.com/t/10637772/222404108/9605332/1/1009235/?abb9e380=NGYzZmQyODYtMmZhOS00YzdjLWFkYzktMzQyOGNhZmI3ZDBl&f5d63f87=REIlMjAwNC0xNyUyMCUyOFVTJTI5JTIwLSUyMExJTkstVEVTVA&x=09537c6c" target="_blank" style="-webkit-border-radius: 6px; -moz-border-radius: 6px; border-radius: 6px; color: #FFFFFF; text-decoration: none; font-family: Arial; font-size: 16px;  border: none; display: block; ">The rich. They
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              Fatih Birol, executive director of the International Energy Agency, said the Strait of Hormuz blockade has choked the continent's oil supply. Even with a peace deal, Birol 
warned a full recovery of energy production could take two years.
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              A 
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              <img alt="Credit: Microsoft" class="img100" data-linktype="Normal" data-target="_blank" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Fqz.com%252Fcdn-cgi%252Fimage%252Fwidth%253D640%252Cheight%253D360%252Cfit%253Dcover%252Cquality%253D85%252Cformat%253Dauto%252Fhttps%253A%252F%252Fassets.qz.com%252Fmedia%252FStellantis%2520and%2520Microsoft/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZxei5jb20lMkZjZCIsInRpbWUiOjE3NzY0MjAxMzIuMjI0MzEwNn0:1wDg1c:qX_BFHFnUIxI4Sk6p6imSNTku34UCWQVpUH1lSaNKKI" style="width:200px;max-height:113px;vertical-align:middle;border:0" width="200"/>
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              The five-year strategic collaboration will 
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             </div>
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              First-quarter net income climbed
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