Stacked column chart showing annual bond issuance by five major technology companies (Amazon, Alphabet, Meta, Microsoft, and Oracle) from 2020 through 2026, measured in billions of dollars. Issuance declined sharply in 2023 and 2024 before rebounding strongly in 2025 and reaching a peak of about $130 billion in 2026. Over the same period, red markers show these companies’ share of total U.S. investment-grade bond supply. The share was about 4% in 2020 and 2021, rose to roughly 6% in 2022, fell to around 2% in 2023 and 2024, increased to about 6% in 2025, and reached approximately 11% in 2026. The chart highlights the growing importance of large technology issuers in the U.S. investment-grade bond market.