Amazon.com is pursuing a sizable bond sale in the range of $37 billion to $42 billion, according to people familiar with the matter who spoke to Bloomberg News. The package would include bonds issued in both U.S. dollars and euros and is aimed at financing the company’s expansion of artificial intelligence infrastructure.
Regulatory paperwork filed with the U.S. Securities and Exchange Commission indicates the parent of Amazon Web Services is marketing U.S. high-grade bonds that could be split into as many as 11 different tranches. The filing provides the most detailed sign yet of the structure being presented to investors across the dollar-denominated portion of the deal.
Amazon did not immediately reply to a request for comment.
Investors have shown robust demand for high-grade corporate debt this year, and large technology issuers have drawn particular interest as the market searches for relatively safe yields. The current offering by Amazon follows a trend of large, so-called jumbo bond transactions from cash-rich hyperscalers that are positioning to fund long-term investments in AI and cloud infrastructure.
Market observers note that bond markets have been receptive to these large-scale supply requests, with the strong credit profiles of these technology firms and their central roles in the AI buildout cited as factors supporting investor appetite. In February, Alphabet, the parent of Google, tapped U.S. and European high-grade bond markets to raise about $32 billion, a package that included a rare 100-year bond.
Oracle has also signaled plans to raise substantial funds. The company said last month it expects to secure $45 billion to $50 billion in 2026 through a mix of debt and equity sales to bankroll additional cloud infrastructure capacity.
Amazon itself last accessed the bond market in November, completing a roughly $15 billion dollar-denominated issue. That sale marked the company’s first U.S. bond offering in three years.
The structure and timing of Amazon’s current bond marketing effort reflect a broader pattern among large cloud and technology companies that are leveraging strong balance sheets and favorable market conditions to fund capital-intensive AI and data-center projects. Investor response to the offers will determine final pricing and tranche allocation for the dollar- and euro-denominated portions of the deal.