Amazon.com Inc. (NASDAQ:AMZN) has launched one of the largest corporate bond offerings on record, aiming to raise between $37 billion and $42 billion across dollar and euro markets to finance artificial intelligence investments.

The tech company is marketing US high-grade bonds across as many as 11 tranches, with maturities ranging from 2 to 50 years, targeting $25 billion to $30 billion in proceeds, according to Bloomberg News, citing people familiar with the matter who requested anonymity because the discussions are private.

Initial price discussions for the longest portion of the offering, a note maturing in 2076, are set at a premium of approximately 1.55 percentage points above Treasuries, one of the people said.

Amazon is also targeting as much as €10 billion from a potential eight-part debut euro bond sale with maturities spanning two to 38 years. An eight-tranche offering would be unprecedented in the euro market.

The cross-Atlantic fundraising represents the latest large-scale corporate borrowing aimed at financing the ongoing artificial intelligence boom.

Source: Investing