Amazon seeks to raise $12 billion through the issuance of high-grade dollar bonds, joining the wave of technology companies issuing debt.

Amazon is seeking to raise around $12 billion by issuing bonds, marking the company's first U.S. dollar-denominated high-grade bond issuance in about three years. The company has joined the wave of technology companies raising funds for artificial intelligence infrastructure. According to sources familiar with the matter, the funds raised from this bond issuance may be used for acquisitions, capital expenditures, and even stock buybacks. The sources, who requested anonymity to discuss undisclosed details, said that Goldman Sachs, JPMorgan, and Morgan Stanley are arranging the bond issuance. Alphabet Inc., Google's parent company, issued $25 billion in bonds earlier this month in the U.S. and Europe. Meta Platforms Inc. issued $30 billion in corporate bonds last month, making it the largest such issuance of the year; Oracle raised $18 billion in September through a high-grade bond issuance. The flurry of bond issuances by tech companies has driven global bond issuance to a record level of over $6 trillion this year.