Trading in products that pay out when companies default is soaring as investors hunt for ways to protect their portfolios against the risk that the artificial intelligence boom turns into a bust.
Volumes in so-called credit default swaps tied to a handful of US tech groups have climbed 90 per cent since early September, according to data from clearinghouse DTCC.
The expanding use of these strategies underscores how some investors are growing uneasy about a rush of bond deals by tech companies to finance AI infrastructure, which could take years to generate returns.
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