This article first appeared on GuruFocus.
Amazon.com, Inc. (NASDAQ:AMZN) has launched its first-ever Swiss franc bond sale, offering notes across six maturities spanning three to 25 years in what would be a record six-part deal in that currency. Deal size has not yet been disclosed. BNP Paribas (BNP), Deutsche Bank, and JPMorgan (NYSE:JPM) are managing the transaction. Amazon shares dropped 0.84% in premarket trading.
Amazon plans to spend $200 billion on data centers, chips, and other equipment this year and has been tapping multiple currencies to fund the buildout. In March, the company raised $54 billion across US and European markets, drawing near-record demand. Amazon’s cloud unit posted its fastest quarterly growth in more than three years in Q1 2026, though capital spending of $44.2 billion came in above analyst expectations.
Amazon, Microsoft (NASDAQ:MSFT), Alphabet (NASDAQ:GOOG), Meta (NASDAQ:META), and Oracle (NYSE:ORCL) are collectively forecast to spend around $725 billion on capital expenditures in 2026. However, last month, data-center-linked corporate bonds fell after reports that OpenAI missed its own user and revenue targets, a reminder that AI spending returns remain unproven.
