Amazon Inks $17.5 Billion Loan as AI Borrowing Frenzy Grows (1)

Soon after selling the biggest Canadian corporate bond sale on record, Amazon.com Inc. inked another multi-billion dollar financing as spending on artificial intelligence soars.

The tech giant agreed to a $17.5 billion delayed-draw term loan with banks including Citigroup Inc., according to a filing on Wednesday. The cash is available to the company through to the end of September, and every time the company borrows under the facility, it has three years from the date of the borrowing to repay the money, the filing shows.

In February, OpenAI said Amazon was investing as much as $50 billion in cash ...