AMD Raises Record $4.75 Billion in Bond Issuance for AI Investments

AMD completed its largest-ever U.S. dollar bond issuance, raising $4.75 billion to fund AI-related investments.

The bond issuance, which included four tranches with maturities ranging from three to ten years, was priced at a spread of 90 basis points over U.S. Treasury yields, narrowing by approximately 25 basis points from the initial pricing guidance.

AMD's fundraising comes as the company accelerates its expansion of AI-related investments, driven by the rapid development of generative AI and increasing demand for data center computing power among major technology firms.

The company has reached agreements with Anthropic and Microsoft to expand the scale of its chip applications, with AMD committing to investing up to $5 billion in Anthropic. Analyst forecasts compiled by Bloomberg predict that AMD's revenue will grow by 47% this year, surpassing $51 billion.