Amazon has kicked off a corporate borrowing binge, launching nearly $50 billion in bond offerings and triggering the busiest day ever for U.S. corporate debt sales as companies rushed to take advantage of calmer financial markets, The Financial Times reports.

The e-commerce and cloud computing giant led a wave of borrowing Tuesday, launching 11 tranches of dollar-denominated bonds worth about $37 billion, according to people familiar with the deal.

Investor demand was overwhelming, with roughly $123 billion in orders, prompting Amazon to increase the deal from initial guidance of $25 billion to $30 billion.

The company is also planning an additional €10 billion (about $11 billion) euro-denominated bond sale, bringing the total global offering to nearly $50 billion.

Amazon’s massive deal helped ignite a broader corporate borrowing surge. Nearly a dozen large companies — including Honeywell Aerospace and the finance arms of Toyota and Ford Motor — rushed to raise debt as markets steadied after geopolitical tensions in the Middle East eased.

Total investment-grade corporate issuance topped $65 billion Tuesday, surpassing the previous one-day record of $52 billion set in 2013, when Verizon issued $49 billion in bonds.

“The windows are getting smaller to get these deals done,” said Mark Clegg, a senior fixed-income trader at Allspring Global Investments. “Whenever there’s stability, capital markets folks really have to jump in. The market went from planning things week by week to hour by hour.”

For Amazon, the offering represents the latest escalation of a borrowing binge by major technology companies seeking to fund massive artificial-intelligence investments.

The Seattle-based company raised $15 billion in November, its first U.S. bond sale in three years. Rival tech giants are also tapping credit markets to finance AI infrastructure, including Oracle, which raised $25 billion last month, and Alphabet, which issued more than $30 billion in bonds across multiple currencies.

Still, the scale of Amazon’s spending plans has begun to worry some investors.

The company spooked markets in February when it outlined plans for roughly $200 billion in capital expenditures this year, much of it directed toward AI computing power and data-center infrastructure.

Analysts say the massive spending spree reflects a race among tech companies to dominate artificial intelligence but also raises questions about returns on those investments.

Amazon chief executive Andy Jassy has defended the aggressive spending strategy.

“We’re going to invest aggressively here,” Jassy said during a recent earnings call. “We’re going to invest to be the leader in this space.”

Shares of Amazon rose strongly in 2025, gaining roughly 80% during the year as investors piled into AI-related technology stocks.

But the shares have fallen more than 7% so far in 2026, reflecting broader concerns about heavy AI spending and the potential for slower returns.

Amazon stock was trading around $175 a share on Wednesday, March 11.

Meanwhile, investors are closely watching the pricing of the new bonds. The longest-dated debt — a 50-year bond — was expected to yield about 1.3 percentage points above comparable U.S. Treasury securities, tightening from roughly 1.55 percentage points during early discussions.

Despite the tightening spreads, the new bonds are still expected to offer a modest premium compared with Amazon’s existing bonds in the secondary market, a relatively rare opportunity for investors in today’s credit markets.

“We do find it very attractive,” said Richard Cheng, head of the investment-grade corporate sector team at Nuveen, noting that Amazon’s diversified revenue streams and decision not to pay dividends strengthen its credit profile.