Amazon added a $17.5 billion delayed‑draw term loan to its balance sheet.
The loan, led by Citigroup, can be drawn until the end of September and must be repaid over three years. Other banks on the syndicate include JPMorgan, Bank of America, HSBC and Wells Fargo. The financing joins a series of borrowings that have taken Amazon’s total debt past $225 billion, driven largely by spending on AI hardware and services.
The extra credit reflects the scale of Amazon’s AI push and its need for cash to build out custom chips and cloud capacity. It also raises the company’s leverage, a metric investors watch closely when assessing risk and growth sustainability.
In short, Amazon is financing a faster AI rollout at the cost of a heavier debt load, a trade‑off that could tighten if market conditions sour.