Nvidia is reportedly looking to raise at least $20 billion through a bond sale, a move that would put the AI chip leader back in the debt market for the first time since 2021.
The planned offering is said to be split across seven tranches, with maturities ranging from two years to 30 years. The longest-dated portion is reportedly being discussed at about 0.9 percentage points above comparable U.S. Treasuries, a sign that investors may still be willing to lend to Nvidia at relatively tight pricing despite the size of the deal.
The proceeds are expected to be used for general corporate purposes, including refinancing existing debt. JPMorgan Chase, Morgan Stanley, and Goldman Sachs are reportedly among the banks managing the sale.
The timing fits a larger financing backdrop around AI infrastructure. Big tech companies have been leaning on debt markets as they spend heavily on data centers, chips, and computing capacity. AI infrastructure spending
For Nvidia, the reported sale would be a major step up from its last bond deal in June 2021, when it raised $5 billion.