Morgan Stanley Climbs Debt Rankings as Go-To Bank for AI Bonanza

As anxiety over an artificial-intelligence bubble reached a fever pitch in recent months, no Wall Street bank helped the industry power past the noise like Morgan Stanley.

The firm has led or co-led some $65 billion in corporate bond deals for data centers or other AI investments since October, more than any other large US bank, according to data compiled by Bloomberg. That included novel financing structures for its efforts which have spanned Meta Platforms Inc.’s Hyperion facility in rural Louisiana to junk bond offerings for lesser-known cryptominers like TeraWulf Inc.

The bank’s AI effort — and ...