Amazon $AMZN filed plans Tuesday for an eight-part bond sale targeting at least $25 billion, as the company continues to fund a large-scale artificial intelligence infrastructure buildout. Bloomberg reported that investor demand may push the final figure higher than the $25 billion minimum.
Amazon also told its underwriters it does not plan to issue additional debt this year. A company spokesperson told CNBC that any money raised is earmarked for broad corporate needs, a category that can encompass new investments, capital expenditures down the road, and paying off existing debt.
"We regularly evaluate our operating plan and make financing decisions, like issuing bonds, accordingly," the spokesperson said.
According to Amazon's SEC filing, the deal's underwriting duties are shared among Barclays, Goldman Sachs $GS, J.P. Morgan, and Morgan Stanley $MS. Maturities on the notes span from three years out to 40 years, Bloomberg reported, with that outlet also being the first to put a dollar figure on the deal, citing people it did not identify by name.
The new offering follows a substantial debt-raising push earlier in 2026. Amazon raised roughly $54 billion in bonds in the U.S. and Europe earlier this year and an additional $10 billion in Canada in June. An 11-part offering the company brought to market in March drew so much investor interest it was heavily oversubscribed, ultimately raising $37 billion.
This year's capital expenditure budget is set at $200 billion, a sharp increase from the $131 billion Amazon spent in 2025, with data centers, chips, and supporting hardware accounting for the bulk of those outlays. CEO Andy Jassy has pushed back against skeptical investors by framing the AI moment as a "once-in-a-lifetime opportunity" that justifies the scale of spending.
The bond sale is part of a broader turn by major technology companies toward debt and equity markets to finance AI spending. Combined AI outlays from Amazon, Alphabet $GOOGL, Microsoft $MSFT, and Meta $META are on track to exceed $700 billion in 2026, according to Reuters. Elsewhere in Big Tech, Meta tapped investment-grade bond markets for $25 billion this year after closing a $30 billion deal last October, and Alphabet separately secured roughly $85 billion by expanding an equity offering last month.