Amazon Raises $12B for AI Infrastructure Expansion

On November 14th, 2025, Amazon announced plans to raise $12 billion through a bond sale in the United States, its first major debt offering in three years. The Seattle-based e-commerce and cloud computing giant is joining a growing number of tech companies that are turning to debt markets to fund their investments in artificial intelligence infrastructure.

According to a person close to the deal, Amazon is targeting approximately $12 billion across about six investment-grade bonds, with Goldman Sachs, JPMorgan Chase, and Morgan Stanley managing the sale. The company stated that the proceeds will be used to support business investments, fund future capital expenditures, and repay upcoming debt maturities.

This move comes as big tech firms engage in an expensive "arms race" to build data centers and computing power that can support the growing demand for AI services. In recent months, companies like Alphabet, Meta, and Oracle have all issued large corporate bond sales to finance their AI-related infrastructure projects.

Amazon's cloud computing unit, Amazon Web Services, is the world's largest provider of leased computing power. The company has significantly expanded its investments in this area, with capital expenditures rising 61% to $34.2 billion in the third quarter of 2025. This has allowed Amazon to double its computing capacity since 2022, and it plans to double it again by 2027.

The surge in AI-related bond issuance has started to impact debt markets, with investors anticipating hundreds of billions of dollars in new debt coming in the next few years. Analysts warn that this could "flood" the market and create new risks for credit investors.