SEATTLE (dpa-AFX) - Amazon is making big moves in the debt markets, raising $15 billion in its first US dollar bond sale in three years. This comes as major tech firms are rushing to fund their hefty investments in artificial intelligence infrastructure.
The bond sale actually surpassed initial expectations by $3 billion, attracting about $80 billion in demand, according to sources familiar with the situation.
Amazon intends to use this cash for acquisitions, capital expenditures, share buybacks, and to settle upcoming debt maturities. They're issuing bonds across six different categories, with the longest note a 40-year bond priced tighter than they originally thought.
This step by Amazon is part of a record-breaking wave of corporate bond issuance happening among Big Tech. Companies are eager to build data centers and secure top-notch chips for AI.
Amazon's plans for AI are quite ambitious. The last time Amazon entered the US bond market was in 2022, when they raised $8.25 billion.
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