Amazon is preparing to borrow $25 billion or more in the U.S. bond market, adding to a wave of jumbo debt financing as the world's largest technology companies race to build artificial intelligence infrastructure, Bloomberg reports.

The e-commerce and cloud computing giant has already raised more than $82 billion in investment-grade bonds across several currencies since the start of 2025.

The deal would lift Big Tech's global AI-related debt issuance to about $335 billion in 2026, more than double the amount issued in 2025, according to Bloomberg data.

Amazon is expected to invest nearly $200 billion this year, largely to expand data centers and computing capacity for its AI operations and Amazon Web Services customers.

Amazon last tapped the U.S. dollar debt markets in March, when it raised $37 billion. That was the fourth-largest U.S. corporate bond sale on record.

The new bond sale is expected to include maturities ranging from three to 40 years. The longest portion of the deal is a note that matures in 2066 with a moderate premium of 1.45 percentage points above Treasuries, according to people with knowledge of the matter.

Amazon's financing follows other massive AI-related debt deals to expand computing power during the AI boom.

Nvidia and SpaceX each raised $25 billion in investment-grade bond offerings last month as technology companies increasingly turn to the debt markets to finance the AI buildout.

Barclays, Goldman Sachs, JPMorgan Chase, and Morgan Stanley are managing the transaction.

Amazon said the proceeds may be used for general corporate purposes, including capital expenditures, acquisitions, and refinancing existing debt.