Investors in the A.I.-fueled stock market have largely shrugged off warnings about a tech bubble, an optimism that has pushed up share prices to repeated new highs this year. But the debt market is telling a different story, some investors say. New artificial intelligence companies looking to raise funds to supercharge their nascent businesses are being made to pay lofty interest rates on the money they borrow, indicative of investors’ skepticism when new, unproven A.I. businesses take on large debts. In one debt deal for Applied Digital, a data center builder, the company had to pay as much as 3.75 percentage points above similarly rated companies, equivalent to roughly 70 percent more in interest.

Full report : Artificial intelligence companies looking to raise funds are being made to pay lofty interest rates, as debt investors become cautious.