Amazon Plans $25B Bond Sale to Fund AI Infrastructure

Amazon filed plans on Tuesday for an eight-part bond sale targeting at least $25 billion, as the company focuses on building AI infrastructure. Investor demand may push the final figure higher than the $25 billion minimum, according to a Bloomberg report.

Amazon told its underwriters it does not plan to issue additional debt this year. A company spokesperson said any money raised is earmarked for broad corporate needs, including new investments, capital expenditures, and paying off existing debt. “We regularly evaluate our operating plan and make financing decisions, like issuing bonds, accordingly,” the spokesperson said.

Underwriting duties are shared among Barclays, Goldman Sachs, JPMorgan, and Morgan Stanley, according to Amazon’s SEC filings. Maturities on the notes span from three years to 40 years. The offering follows a substantial debt-raising push earlier in 2026, when Amazon raised roughly $54 billion in bonds in the U.S. and Europe, plus an additional $10 billion in Canada in June.

Amazon CEO Andy Jassy described the AI moment as a “once-in-a-lifetime opportunity” justifying the scale of spending. Amazon’s capital expenditure for the year is set at $200 billion, up from $131 billion last year. Silicon Valley giants have increasingly turned to debt and equity offerings for capital, shifting from reliance on cash reserves. Alphabet recently said it would raise about $85 billion in an upsized equity sale, and Meta sold $25 billion in investment-grade bonds earlier this year.

SpaceX also recently announced a potential bond offering of at least $20 billion, its first issuance of investment-grade dollar bonds, to refinance a bridge loan taken earlier this year for its acquisition of xAI. Amazon Web Services recently launched a new internal organization dedicated to AI-focused forward-deployed engineers who will work directly with customers to deploy AI agents.