Microsoft · Google · Amazon · Oracle · SEC · Datacenter Dynamics
Big four hyperscalers raising more that $131 billion in debt and equity for AI buildout
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The largest cloud hyperscalers are looking to raise more than $131 billion in debt and equity to fund their ongoing AI buildout.
Key facts
- The filing adds that as of September 30, 2026, Amazon had an aggregate $20 billion in unsecured revolving credit facilities with syndicates of lenders, consisting of a $15 billion facility from 2023
- Google, meanwhile, is offering €6bn ($6.7bn) in bonds, with rates between 3.7 percent and 5.25 percent
- Compared to competitors, Oracle's capex is much lower, with the company anticipating full-year spending of between $90bn and $95bn
- In its most recent quarter, Amazon spent more than $77bn on data centers, AI servers, warehouses, and other capex, above expectations
- although the company said that it believes total year capex
Summary
Amazon, Google, Microsoft, and Oracle have all disclosed funding plans during the last week, with Amazon leading the pack with an $80 billion loan facility. As per an SEC filing, Amazon's facility is part of its supplier financing arrangements for technology infrastructure purchases and can be tapped into between Q1 2027 and Q3 2028. According to the filing, the loan is "subject to variability based on the extent and timing of purchase orders and pricing terms, of up to approximately $80 billion, which accrue interest at variable rates and mature five years from the date of each borrowing. The filing adds that as of September 30, 2026, Amazon had an aggregate $20 billion in unsecured revolving credit facilities with syndicates of lenders, consisting of a $15 billion facility from 2023 and a $5 billion one-year 2025 agreement.