Amazon Borrows $17.5B From Banks as AI Capex Race Drives Up Debt

TechCrunch·high signal

Fresh off a bond sale, Amazon took on an additional $17.5 billion in bank loans to fund continued AI infrastructure spending. The borrowing underscores how even the most cash-rich hyperscalers are now leaning on debt to sustain the AI capex arms race. The signal for builders: compute supply will keep expanding aggressively, but the financing strain hints at eventual pricing and ROI pressure across the stack.