TechCrunch AI 🤖 Ai Wed, 10 Jun 2026 20:19:31 +0000 👁 1 📖 2 min read

Fresh off bond sale, Amazon borrows $17.5 billion from banks as AI spending continues

As AI spending continues to climb, the e-commerce giant has taken out a fresh $17.5 billion loan from a small coterie of banks.

In Brief

Posted:

1:19 PM PDT · June 10, 2026

Image Credits:Matthias Balk/picture alliance / Getty Images

Lucas Ropek

Fresh off bond sale, Amazon borrows $17.5B from banks as AI spending continues

Companies are burning through exorbitant sums of money to keep pace in the AI arms race. Debt is climbing. Amidst this flurry of activity, Amazon has signed a deal to borrow some $17.5 billion from a number of financial lenders, according to Bloomberg.

The banks behind the loan reportedly include Citigroup, JPMorgan Chase, Wells Fargo, HSBC, and BofA Securities. The deal has been characterized as a delayed draw term loan, meaning Amazon can draw down the funds on its own timeline rather than taking the full sum upfront, giving it flexibility in how and when the money gets deployed.

The loan comes just two days after it was reported that Amazon would also raise $14 billion in a Canadian bond sale, bringing its total new financing to roughly $31.5 billion in the span of roughly 48 hours.

It’s not clear exactly how Amazon plans to spend all the new money. Reuters notes that the new loan will be used for “general corporate purposes.” TechCrunch has reached out to Amazon for more information.

Amazon is hardly alone. To fund new AI infrastructure like chips and data centers, companies are leveraging historic capex. Increasingly, companies are borrowing money to fund their massive AI buildouts. The question investors and analysts are increasingly asking isn’t whether this spending is necessary — it’s whether the returns will ever justify it.

The scale of the borrowing is striking even by Silicon Valley standards. About a week ago, Google parent company Alphabet said that it planned to raise $80 billion through a stock sale designed to help “fund its investments in a balanced way while retaining a healthy balance sheet.” Meta has also announced plans to raise $30 billion in a bond sale — its largest ever.

Topics

AI, Amazon, citigroup, In Brief