BIS Warns AI Infrastructure Spending Boom Poses Financial Stability Risks

The Bank for International Settlements (BIS) warned on September 10, 2026 that the rapid rise of artificial intelligence is creating new risks to global financial stability, with spending on AI-related infrastructure now large enough to affect the global economy.

The BIS estimates that the world's five biggest technology companies will invest more than $1 trillion in AI between 2025 and 2026. General Manager Pablo Hernandez de Cos said the potential of AI is real, but noted that the current boom is increasingly being financed through debt and private credit rather than corporate earnings. Given that a significant portion of these funding sources remains opaque and interconnected, the trend deserves close monitoring.

De Cos also cited evidence that generative AI can significantly boost productivity, with gains of 10% to 65% in specific tasks such as programming, consulting and professional writing. The long-term impact, he said, will depend on policy choices, skills, infrastructure investment, and how widely the benefits are shared.