AMD Launches Bond Offering to Raise Up to $5 Billion

Advanced Micro Devices launched a major bond offering on Thursday, August 13, 2026, aiming to raise between $4 billion and $5 billion in what could be its largest investment-grade debt issuance to date. The chipmaker is seeking the capital to fund general corporate purposes, including potential debt repayment, as it expands its artificial intelligence and data center operations.

The offering consists of senior unsecured notes divided into four tranches with maturities in 2029, 2031, 2033, and 2036. Preliminary pricing discussions set the yield spreads at approximately 70 basis points over comparable U.S. Treasury securities for the 3-year notes, 90 basis points for the 5-year tranche, 100 basis points for the 7-year notes, and 115 basis points for the 10-year debt. The final size of the offering remains subject to change based on investor demand, and the bonds are expected to settle on August 17.

AMD filed with the U.S. Securities and Exchange Commission on Thursday in connection with the deal, though the filing did not disclose specific terms. A company spokesperson stated that AMD intends to use the net proceeds for general corporate purposes, which may include repaying...