The banks’ commitments to provide the credit facility will expire on Sept. 30 unless Amazon has fully borrowed prior to that date. The maturity date of any loans Amazon borrows under the credit facility will be three years from the data that it borrows them, according to Amazon’s Wednesday (June 10) filing with the Securities and Exchange Commission.
“Borrowing under the DDTL Facility will be used for general corporate purposes,” Amazon said in the filing.
Bloomberg reported on the agreement Wednesday and said that an Amazon spokesperson said that the general corporate purposes for which the proceeds of the loan may be used include “supporting business investments, funding future capital expenditures, and repaying debt.”
The report added that on Monday (June 8), Amazon sold $14 billion Canadian dollars (about $10 billion) of Canadian dollar high-grade bonds, and that since March, the company has sold other bonds in euros, U.S. dollars and Swiss francs.
Bloomberg reported that the new loan disclosed Wednesday could help fund Amazon’s investments in artificial intelligence. The company is investing as much as $50 billion in cash in OpenAI, when that company meets conditions, and it invested $10 billion in Anthropic, a move that may be followed by another $15 billion, according to the report.
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In addition, Amazon has said that it plans to spend about $200 billion on AI infrastructure and other capital expenditures this year, per the report.
PYMNTS reported in April that during Amazon’s first-quarter earnings call, the overwhelming majority of the discussion centered on Amazon Web Services (AWS), AI infrastructure and the chips Amazon said are becoming a major business of their own.
Amazon CEO Andy Jassy said during the call that Amazon has “never seen a technology grow as rapidly as AI.” The company’s platform for building with AI models, Bedrock, saw customer spending grow 170% quarter over quarter and processed more tokens in the first quarter than in all prior years combined.
In a 2025 Letter to Shareholders posted earlier in April, Jassy said Amazon will continue to bet big on AI because the technology is a gamechanger that will reinvent every customer experience.
