AI infrastructure borrowers face higher costs as Treasury yields reach highest levels since 2007

The 10-year Treasury yield sits near 5.17%, up about one percentage point since January, raising borrowing costs for the AI data-center buildout. JPMorgan estimated in June that $4.1 trillion in AI-related debt will be issued through 2030. SoftBank raised $11.1 billion in junk bonds this week, with 7-year tranche yields as high as 9.75%; CoreWeave shares rose almost 8% this week while Oracle fell 7% for the week and about 30% this year.