Microsoft Plans $25 Billion Bond Sale as AI Buildout Drives $170 Billion 2026 Capex
Updated
Updated · CNBC · Oct 30
Microsoft Plans $25 Billion Bond Sale as AI Buildout Drives $170 Billion 2026 Capex
3 articles · Updated · CNBC · Oct 30
Summary
$25 billion in bonds will give Microsoft fresh funding for general corporate purposes, with the company pointing to capital expenditures, working capital, buybacks, acquisitions and debt repayment; the offering is set to close Nov. 4.
$170 billion in 2026 capital spending reflects surging infrastructure demand from AI customers including Anthropic and OpenAI, pushing Microsoft to supplement internal cash generation with debt while market conditions remain favorable.
AAA-rated Microsoft is tapping bond markets from a position of strength after reporting positive free cash flow, a contrast with Alphabet, Meta and Amazon, which have recently posted negative free cash flow.
Oracle last week outlined a $10 billion debt raise, and Amazon, Alphabet and CoreWeave have also used debt to expand data centers, underscoring how AI infrastructure spending is reshaping corporate financing.