Nvidia taps debt market with $20 billion bond sale as AI spending boom accelerates

Nvidia is looking to sell at least $20 billion of bonds on Monday, marking its first debt sale in five years as the chipmaking giant leans further into the artificial intelligence investment boom.

The company is offering notes in seven parts, with maturities ranging from two years to 30 years. The longest dated portion is being discussed at about 0.9 percentage point above Treasuries, according to people familiar with the matter.

Proceeds from the sale are expected to be used for general corporate purposes, including the repayment and refinancing of outstanding debt. The deal could still be increased depending on investor demand.

The offering comes as Big Tech companies flood debt markets to fund the infrastructure needed for AI, from data centers to cloud capacity and model development. Alphabet and Amazon have already tapped bond buyers this year as the industry races to expand compute capacity.

Nvidia sits at the center of that buildout. The company supplies the chips powering AI infrastructure, while also committing capital across the ecosystem through investments and strategic partnerships with Intel, Anthropic, and OpenAI.

The bond sale gives Nvidia cheaper long dated funding at a time when demand for AI exposure remains strong across credit markets. It also lets the company support its AI expansion and shareholder payouts without relying only on cash, even as profits and free cash flow surge.