Amazon secures $17.5B Citibank loan to fund AI infrastructure and debt

Amazon has secured a $17.5 billion delayed draw term loan (DDTL) facility from Citibank and other banks. The financing is disclosed in a June 10 SEC filing and is intended for general corporate purposes, including investments and debt repayment. Bloomberg links the funding to Amazon’s AI spending plans—covering technology infrastructure costs and investments in AI companies. Key terms: loan commitments run through Sept. 30, with draws permitted until then (unless Amazon borrows the full amount earlier). Any amount drawn will mature three years after the borrowing date. Citibank N.A. is the administrative agent, and the agreement includes customary representations and default provisions, with no financial covenants. Amazon has said it plans about $200 billion in AI infrastructure and other capital expenditures this year. Bloomberg also cited potential AI funding at Amazon, including expected investment up to $50 billion in OpenAI and already investing $10 billion in Anthropic, with another $15 billion potentially following. The company also continues spending on cloud, data centers, and computing capacity. Amazon’s SEC disclosure does not name specific AI projects. Separately, Amazon sold 14 billion Canadian dollars of bonds on June 8, roughly $10 billion, but it did not state the Citibank loan replaces any bond issuance. The new Citibank loan mainly expands Amazon’s liquidity and borrowing capacity for ongoing capex and debt management.