Amazon takes on $17.5 billion in new debt as AI spending pushes total borrowing past $225 billion

▤ Summary

Amazon added $17.5 billion in delayed-draw debt as it accelerates spending on AI infrastructure. The company now carries more than $225 billion in total debt, up sharply from a year ago. It plans to direct much of its 2026 capital expenditure toward data centers and chips, and the new borrowing can also support broader corporate needs and investments. The article highlights Amazon's heavy financing activity across multiple currencies as it competes in the AI buildout. It also raises the question of whether the revenue payoff from that spending will arrive quickly enough to justify the leverage.

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