Pimco trims AI infrastructure bond bets before the selloff
10/29/2026 — 10/29, 06:18·1 sources (all)·1 reports (all)
Key takeaways
- Pimco built a large position in AI infrastructure bonds and then sold early, locking in gains before prices fell sharply, Bloomberg reported…
Background & analysis
According to people familiar with the matter cited by Bloomberg, Pacific Investment Management Company (Pimco), one of the world's largest fixed-income asset managers, built large positions in AI infrastructure bonds and then trimmed them through a series of well-timed reductions, locking in gains before prices fell sharply. Some holdings were sold after only a few months. Pimco stepped back from several major AI financing deals this year, including a large bond issue co-led by Broadcom and Anthropic and roughly $11 billion of junk bonds from SoftBank Group. Bonds tied to Oracle's Michigan data center campus have fallen from an issue price of 98.7 cents to around 88 cents, while other large AI bonds such as Broadcom's have also been under pressure, quoted around 96 cents. Pimco's most representative AI bond investment was its participation in 2024 in the financing for Meta Platforms' large Louisiana data center project, a deal of roughly $18 billion known as Beignet, and the firm exited both flagship trades profitably.
AI-generated from 1 reports · updated 22 hours ago
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Pimco built large positions in AI infrastructure bonds and then cut them before prices fell, locking in gains, Bloomberg reported, citing people familiar with the matter. The bond manager also skipped deals including a joint Broadcom-Anthropic issue and a roughly $11 billion SoftBank junk bond, while Oracle's Michigan data center bonds have slid from 98.7 cents to about 88 cents.
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