The deal arrives at a time when hyperscalers are increasingly selling bonds across the markets, be it the United States or overseas, with the sole purpose of diversifying their funding sources to finance the AI boom.
As per the LSEG data, hyperscalers have already issued more than USD 200 billion in debt in 2026, more than double from the whole of 2025.
Amazon saw over 12 billion pounds in demand for the four-part deal, which, as per Reuters, will be expected to raise 1 billion pounds each from 3-, 6-, 12- and 19-year bonds.
The deal will price to offer spreads of 53 basis points, 75 basis points, 90 basis points, and 93 basis points over corresponding British government bonds.
The pound will be the latest currency that Amazon will be adding to its funding programme, after tapping the euro, Swiss franc, and Canadian dollar bond markets.
In July, weaker demand greeted Amazon’s USD 25-billion bond offering. with weaker demand. Analysts back then dubbed it the first sign of the heavy pace of hyperscaler borrowing, which was starting to test the limits of investor demand.
However, the European Central Bank (ECB) has already sounded the warning bell by stating that hyperscalers’ push into the eurozone bond market could potentially crowd out other borrowers and push up their financing costs.
Google parent Alphabet was the first hyperscaler to tap the sterling market in February 2026, when it raised 5.5 billion pounds from a five-part deal, including a rare 100-year bond.
The Sundar Pichai-led business, like Amazon, raised Japanese yen and Canadian and Australian dollar debt recently.