Surging demand for AI computing power drives capital investment; AMD completes its largest USD bond issuance in history, raising $4.75 billion!
Supermicro Company completed the largest USD bond issuance in its history, raising a total of $4.75 billion. With the AI boom driving rapid global demand for computing power, AMD is continuously expanding related investments. This bond issuance also marks the latest case of a tech company conducting large-scale financing around AI infrastructure.
According to insiders, AMD has issued four investment-grade bonds this time, with maturities ranging from 3 to 10 years. The longest-term bond was ultimately priced 90 basis points higher than the U.S. Treasury yield, narrowing by about 25 basis points from the initial pricing guidance, indicating strong investor demand for the bond.
AMD's financing comes at a time when the company is accelerating its AI-related investments. In recent years, generative AI has developed rapidly, and large tech companies' demand for data center computing power continues to rise. AMD is actively expanding its AI chip market coverage and attempting to further challenge Nvidia's leading position in the AI accelerator market. AMD has successively reached agreements with Anthropic and Microsoft to expand the scale of its chip applications. According to analyst forecasts compiled by Bloomberg, driven by AI demand and other factors, AMD's revenue is expected to grow 47% this year, surpassing $51 billion.
Notably, AMD's previous entry into the investment-grade bond market was in March 2025, when it raised $1.5 billion. This $4.75 billion issuance surpasses previous levels, making it AMD's largest USD bond financing to date.
Since the beginning of this year, the AI investment boom has been driving the continued growth in funding demand for U.S. tech companies. As capital expenditures on chips, data centers, power, and other AI infrastructure continue to expand, issuers—including large tech companies and semiconductor firms—are increasingly using the bond market to raise capital.
Market Insight:
AMD's record-breaking bond issuance further demonstrates that, against the backdrop of strong demand for AI computing power, related tech companies are providing financial support for a new round of capital investment through external financing to maintain their technological advantages and market share.
