AI companies rush to borrow cash as stocks crash

AI companies have announced over $200 billion worth of new cash borrowing and equity financing deals during the second half of this year despite the PHLX Semiconductor Sector shedding a quarter of its value in the same period. Created in 1993 by the Philadelphia Stock Exchange, the PHLX Semiconductor Sector is a capitalization-weighted index made up of the 30 largest US-traded companies that design, distribute, manufacture, and sell semiconductors. As stock prices across the AI sector have declined, executives have rushed to secure financing via capital raises. Among them, Oracle filed $20 billion worth of fresh debt and equity offerings this week, adding to a record-shattering $95 billion financing plan by Meta.

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