Amazon plans to issue pounds-denominated bonds for the first time, and AI capital expenditures are driving large-scale cloud providers to take on debt globally
Amazon plans to issue pound-denominated bonds for the first time, with the launch expected to take place this Wednesday. The bonds will be underwritten jointly by four banks including JPMorgan and Barclays. The bonds will be available in four maturities ranging from 3 to 19 years, aiming to raise funds for AI infrastructure development. Previously, Amazon has already entered the euro and Swiss franc bond markets, with a total issuance amounting to over $92 billion, making it the largest bond issuer among large-scale cloud computing companies in 2026. Its total debt is nearly twice that of Microsoft. Amazon plans to invest $220 billion in capital expenditures this year, with most of it going towards AI initiatives. However, as the scale and frequency of such bond issuances increase, recent market demand has weakened, and some issuers have had to offer higher interest rates to attract investors.