Amazon Borrows $31.5B in 48 Hours for AI

Amazon has secured a $17.5 billion bank loan from lenders including Citigroup, JPMorgan Chase, and Wells Fargo, just two days after raising $14 billion in a Canadian bond sale. The structured delayed draw term loan gives Amazon flexibility on when to access the funds, with the money earmarked for general corporate purposes. The borrowing spree reflects a broader industry trend of massive AI infrastructure spending. Alphabet recently announced an $80 billion stock sale, while Meta plans its largest-ever $30 billion bond offering, raising questions about whether AI investment returns will justify the historic debt levels.