Amazon to Raise $15 Billion in U.S. Bond Sale to Accelerate AI Investments

November 17, 2025 – Amazon.com Inc. (AMZN.O) announced plans to raise $15 billion in its first U.S. dollar bond offering in three years, signaling the e-commerce and cloud computing giant’s aggressive push into artificial intelligence (AI) infrastructure. The filing with the Securities and Exchange Commission (SEC) marks Amazon’s latest move to secure funding as tech companies increasingly turn to debt markets to finance large-scale AI projects.

Details of the Bond Offering

Amazon’s bond sale is structured as a six-part offering, with proceeds earmarked for a range of purposes, including:

• Capital expenditures on AI and cloud infrastructure
• Acquisitions to expand technology capabilities
• Potential share buybacks to return value to investors

Investor demand for the bonds has been exceptionally strong. Bloomberg News reported that the offering attracted roughly $80 billion in orders, reflecting high confidence in Amazon’s growth strategy. The longest-term portion of the deal, a 40-year bond, saw pricing tighten to 0.85 percentage points above U.S. Treasuries, compared with an initial pricing expectation of 1.15 points.

Amazon’s AI Expansion and Capital Expenditure

Amazon is joining other major tech players in a surge of investment in AI infrastructure. Morgan Stanley estimates that Amazon, Meta, and Alphabet will collectively spend $400 billion on AI projects in 2025. Amazon’s own capital expenditure is expected to reach $125 billion this year, with significant increases projected for the following year.

Recently, Amazon announced a $38 billion deal with OpenAI, strengthening its Amazon Web Services (AWS) cloud unit after losing ground to competitors like Microsoft and Google. These investments reflect Amazon’s strategy to integrate AI across retail, cloud computing, and emerging technologies, ensuring competitiveness in the rapidly evolving tech landscape.

Context: Big Tech Debt and AI Spending

Amazon’s move follows similar actions by other tech giants:

• Meta Platforms raised up to $30 billion in its largest bond sale to date.
• Oracle is reportedly planning a $15 billion bond issuance to fund AI and cloud expansion.

These initiatives highlight the trend of leveraging debt to finance AI infrastructure, enabling companies to accelerate innovation while preserving cash for operational flexibility and strategic acquisitions.

Outlook

The funds raised from this bond offering will allow Amazon to maintain its leadership in cloud services, AI, and smart technologies. By combining debt financing with strategic acquisitions and capital investments, Amazon aims to strengthen its market position in AI and cloud computing, expand its technological capabilities, and enhance long-term profitability.

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Key Takeaways

• Amazon plans a $15 billion U.S. bond sale, its first in three years.
• Proceeds will fund AI infrastructure, acquisitions, and share buybacks.
• The bond offering attracted $80 billion in investor demand.
• Capital expenditure for 2025 expected at $125 billion, with a major OpenAI deal of $38 billion.
• Reflects the broader trend of big tech investing heavily in AI via debt financing.