The AI boom is driving unprecedented levels of borrowing from technology companies, data centre operators and the broader infrastructure ecosystem supporting AI deployment. While investors remain attracted to the growth story, the scale of issuance raises important questions for fixed income markets around concentration risk, credit quality, capital allocation and whether spreads adequately compensate for the risks associated with long-term investment programmes. This discussion will explore how corporate credit investors are assessing opportunities and risks across the AI value chain, where they are finding relative value, and how they are positioning portfolios as AI-related investment becomes an increasingly significant driver of credit market performance.