Amazon just locked down a $17.5 billion delayed-draw term loan facility. The facility, announced on June 10, is designed to fuel the company’s increasingly aggressive push into AI infrastructure, with a particular focus on expanding AWS data center capacity.
Citibank is leading the syndicate, with BofA Securities, JPMorgan Chase, HSBC, and Wells Fargo all participating.
The spending plan behind the borrowing
Amazon’s projected capital expenditures for 2026 sit at roughly $200 billion. For context, that’s up from $131 billion in 2025, representing a jump of more than 50% year over year. The vast majority of that spending is earmarked for AWS data centers and AI capabilities.
The delayed-draw structure means Amazon doesn’t have to take all $17.5 billion at once. It can pull funds as needed, which reduces interest costs and gives the company financial flexibility as projects come online at different stages.
