Amazon launches $25 billion bond sale to fund AI infrastructure

Amazon filed plans for an eight‑part bond offering targeting at least $25 billion to finance its artificial‑intelligence infrastructure, primarily for Amazon Web Services. The company may raise more if investor demand exceeds the minimum. The deal, underwritten by Barclays, Goldman Sachs, JPMorgan and Morgan Stanley, includes maturities from three to 40 years and added an extra 18‑21 basis points of yield on the longest bonds to attract investors.

The sale brings Amazon’s total debt issuance in 2026 to about $92 billion, surpassing the annual totals of other hyperscalers such as Google, Meta and Oracle. Demand was the weakest among peers, with orders at 2.5 times the amount offered, down from 3.2 times in March, prompting analysts to note a possible slowdown in the AI‑driven spending surge. Proceeds will be used for AWS data‑center expansion, AI chips, servers, networking gear and other general corporate purposes. CEO Andy Jassy described the AI opportunity as “once‑in‑a‑lifetime,” while the company’s credit ratings remain AA (Moody’s) and S1 (S&P).