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Investing.com-- Amazon.com Inc (NASDAQ:AMZN) plans to raise $15 billion from its first U.S. bond offering in three years, a filing with the Securities and Exchange Commission showed on Monday, as the company and its peers ramp up investments in artificial intelligence.
The company filed for a six-part issuance with notes dated from 2028 to 2065, the SEC filing showed. An earlier report from Bloomberg showed the issuance drew in $80 billion of demand.
Proceeds may be used to repay debts, fund acquisitions, for working capital, and buybacks, Amazon said.
The issuance comes as Amazon and its peers use debt to fund their AI infrastructure building, which is a capital-intensive process. Last month, Meta Platforms Inc (NASDAQ:META) announced a $30 billion bond sale, while reports said Oracle Corporation (NYSE:ORCL) was seeking a $15 billion raise.
Amazon ramped up its spending on AI in recent years, and is forecast to spend $125 billion this year.
