Nvidia will raise US$20 billion through a U.S. bond issuance, a source told Reuters on Monday, joining a growing number of technology companies turning to the debt market as investments into AI accelerate.
The bonds consist of seven tranches of notes, maturing as late as 2056, according to a term sheet seen by Reuters.
Expensive AI infrastructure buildouts require a significant amount of capital, pushing big tech firms to use debt as a method of fulfilling their multi-billion dollar AI ambitions.
Goldman Sachs, J.P. Morgan and Morgan Stanley are the bookrunners for the raise.
(Reporting by Zaheer Kachwala in Bengaluru; Editing by Tasim Zahid and Shilpi Majumdar)
