Amazon Launches $37-42 Billion Bond Sale for AI

Amazon launched one of the largest corporate bond offerings in history on Tuesday, targeting between $37 billion and $42 billion to finance its expanding artificial intelligence infrastructure. The sale, which includes bonds denominated in dollars and euros, drew peak demand of approximately $126 billion from investors, according to people familiar with the matter, signaling robust interest in debt from major technology companies.

The offering is structured across U.S. and European markets. In the United States, Amazon is marketing high-grade bonds in up to 11 tranches, aiming to raise $25 billion to $30 billion with maturities ranging from two to 50 years. The longest-dated U.S. tranche matures in 2076 and is preliminarily priced at about 1.55 percentage points above comparable Treasury securities. Separately, the company is pursuing up to $10 billion through an eight-part euro-denominated bond sale, with maturities from two to 38 years. This would mark Amazon's first issuance in euros, a debut that could set a precedent in European debt markets. Details of the U.S. portion were filed with the Securities and Exchange Commission, though the company has not issued public...