Major AI data center builders have doubled their debt in five years. This borrowing finances an unprecedented spending spree for economic transformation. Investors have backed these companies, buying new bonds issued globally. However, Amazon's recent bond issuance received a chilly reception from buyers. Some companies show balance sheet strain as AI spending accelerates.

Amazon plans to raise at least $25 billion in an eight-tranche bond sale for AI infrastructure as investor demand weakens and AI-related debt prices slide.

Amazon is raising at least $25bn in an eight-part bond sale, its biggest of the year, to bankroll a $200bn AI infrastructure push.