Funding for AI Infrastructure Investment: Amazon Confirms $37 Billion Bond Terms

On March 13, Amazon.com, Inc. (NASDAQ: AMZN) established 11 new series of unsecured corporate notes totaling approximately $37 billion (about 50 trillion KRW) under its 2012 indenture, setting interest rates, maturities, and redemption terms. Some series carry SOFR-linked floating rates, while the others are fixed-rate notes maturing between 2028 and 2076 with coupons ranging from 3.85 percent to 6.05 percent.

On April 1, Douglas Herrington, CEO of Amazon’s Global Store business, sold 1,000 shares of Amazon stock at about $210.50 per share—roughly 280 million KRW—under a prearranged Rule 10b5-1 trading plan. He retains direct and indirect holdings valued at around 150 billion KRW, a relatively modest stake in the company. Then on April 8, AWS CEO Matthew Garman received a new award of approximately 218,000 restricted stock units, vesting in installments from 2027 through 2032.

These notes are part of an unprecedented $37 billion bond deal Amazon completed last month in the U.S. corporate debt market to fund AI infrastructure and cloud data-center investments—one of the largest single-issuer transactions on record. Meanwhile, on April 8 Amazon also revamped its Kindle Scribe e-reader lineup and introduced its first color model, further expanding its consumer devices portfolio.

Amazon, a leading U.S. Big Tech company in global online retail and cloud computing, operates e-commerce and Prime membership services, offers digital content, and delivers enterprise cloud and AI infrastructure through AWS. The company has recently joined Microsoft and Google in aggressively ramping up capital expenditures and financing for large-scale data-center and semiconductor projects to meet growing AI computing demand.