Amazon.com Inc. Raises Record $53.8 Billion for AI Infrastructure

Amazon.com Inc. executed the largest corporate bond sale in capital markets history, raising approximately $53.8 billion. The transaction surpassed a 2013 record held by Verizon Communications and consisted of a $37 billion U.S. dollar leg and a €14.5 billion euro-denominated debut. The offering was heavily oversubscribed, attracting approximately $126 billion in peak demand within the U.S. market.

Amazon is using the proceeds to support a $200 billion capital expenditure program for 2026. This funding is dedicated to AI infrastructure, chips, data center commitments in Spain and Virginia, and the training of its Nova model. Additionally, the company intends to invest up to $50 billion in OpenAI and fund multi-year capacity deals with the AI firm. This move increases Amazon's total borrowings to $122 billion.

JP Morgan served as the sole global coordinator for the deal, which was also arranged by HSBC, Citigroup, and Goldman Sachs. The fundraising follows a broader trend among hyperscalers; Alphabet raised $32 billion in February, and Oracle plans to raise up to $50 billion in 2026. Despite market volatility linked to conflict in the Middle East, the offering saw significant investor appetite.