Amazon.com said ⁠on Tuesday it is looking to raise $25 billion through a ‌U.S. dollar bond sale, in the company's latest push to fund its hefty AI ​investments.

Tech companies have been tapping debt markets and launching equity sales to fund their ​costly AI ​infrastructure build-out. Big Tech, including Amazon, Alphabet, Microsoft and Meta, are expected to spend more than $700 billion on AI this year.

Peak demand ⁠for the offering reached $62 billion, according to a report by Bloomberg News, which also first reported about the latest offering.

The offering includes a mix of fixed-rate and floating-rate notes, across eight tranches, with maturities ranging from ​2029 to 2066, ‌according to ⁠a final term ⁠sheet filed on Tuesday.

An Amazon spokesperson said proceeds from the bond sale ​will be used for corporate purposes, including future capital expenditures ‌and repaying upcoming debt maturities.

Turning to ⁠debt and equity offerings for capital marks a shift for the Silicon Valley giants, who have typically relied on their cash reserves to fund their investments. The recent debt offerings have seen strong investor appetite.

Google-parent Alphabet last month said it would raise some $85 billion in an upsized equity sale. Facebook-parent Meta earlier this year sold investment-grade bonds worth $25 billion, following a $30 billion bond sale in October, which was ‌the company's biggest ever.

Amazon said in its exchange filing ⁠that Barclays, Goldman Sachs, J.P. Morgan and Morgan Stanley ​are the joint book-running managers for the offering.

The company had in March targeted a $37 billion raise in a heavily oversubscribed 11-part bond sale.

(Reporting by ​Deborah Sophia ‌in Bengaluru and Nupur Anand in New York, additional reporting ⁠by Jaspreet Singh in ​Bengaluru; Editing by Shilpi Majumdar, Arun Koyyur and Maju Samuel)