Amazon has raised $37bn in a US dollar bond sale, and a further €14.5bn ($16.8bn) in a euro-bond sale.

According to Bloomberg, the former is the fourth-largest US corporate bond sale on record.

The fundraising comes shortly after Amazon revealed it intended to spend as much as $200 billion on data centers throughout 2026, around double that of 2025.

The company has been vague about its exact plans for the funding, noting that the proceeds of both offerings will be used for "general corporate purposes" which could include "repayment of debt, acquisitions, investments, working capital, investments in our subsidiaries, capital expenditures, and repurchases of outstanding shares of our common stock.

The US bond sale was high-grade debt split across 11 tranches, ranging between two and 50 years. The deal drew around $126bn in orders, with the offering originally set at $25bn, being twice increased to reach $37bn.

J.P. Morgan served as global coordinator and joint-book running manager, while Citigroup, Goldman Sachs & Co. LLC, and HSBC also served as joint-book running managers.

Shortly after the US bond sale, Amazon also closed its euro bond sale, raising €14.5bn ($16.8bn), which Bloomberg reports is the largest corporate deal in the currency.

The euro sale has maturities ranging from two to 38 years, according to "people familiar with the matter" who disclosed details to Bloomberg.

JPMorgan acted as global coordinator for Amazon’s offering and was one of the bookrunners along with Barclays Plc, Bank of America Corp., and Société Générale SA.

With the major bond sale, Amazon has joined the likes of Oracle in conducting massive debt raises to help support its data center buildout.

In early February, Oracle launched a $25bn bond offering and $20bn equity distribution agreement, having taken out another $18bn in debt in September 2025.

While typically very cash-rich companies, hyperscalers have been rapidly increasing their spending as they seek to quickly build out large numbers of large-scale data centers to meet AI demand.

Amazon is estimating its capex to reach $200bn this year, with CEO Andy Jassy noting that the spend is "predominantly in AWS." Microsoft's capex in its most recent quarter was $37.5bn, an all-time high for the company, as it brought online 1GW of capacity in the three-month period alone.