Nvidia is planning to raise more than $20 billion through a U.S. bond issuance, marking its first major bond deal since 2021, according to multiple reports. The company’s debt sale is set to tap investor demand for additional exposure to the AI sector as a wider wave of corporate borrowing continues across markets. The planned offering places Nvidia alongside other large technology companies, including Alphabet and Amazon, that have recently accessed debt markets to help finance their ongoing technology buildouts.

The reports describe the issuance as part of Nvidia’s funding strategy to support substantial capital requirements tied to continued expansion of its AI-related business. While details on terms such as coupon rates, maturities, and final size may depend on market conditions, the figures cited indicate a large-scale fundraising effort. Overall, the bond sale is framed as a test of appetite from bond investors for companies benefiting from the AI supply chain and for continued funding of AI infrastructure and development.