It Costs $114,500 a Year to Insure $10M of Meta Debt

Reuters, 22 Oct 2026, citing Markit: Meta's five-year credit default swap rose 7.3 basis points to a record close of 114.5bp. At that spread, insuring $10 million of the debt costs $114,500 a year. The Financial Times, citing Morgan Stanley, reported earlier in the month that Nvidia's five-year CDS reached 101bp, also a record, and that weekly trading in CDS linked to a set of AI giants went from under $2 billion in July to over $9 billion in September. A CDS price is what the market charges to insure the debt. It is not a forecast that Meta or Nvidia will default.