Microsoft Prices $25 Billion Bond Offering Amid AI Buildout

Oct 30, 2026
Microsoft plans to raise $25 billion through a bond offering as it expands infrastructure for AI and cloud customers. The company expects $170 billion in capital spending during 2026.

Microsoft plans to raise $25 billion through a new bond offering, according to CNBC. The financing will support general corporate purposes as the company expands its infrastructure.

Microsoft expects capital spending to reach $170 billion in 2026. The company is adding capacity to meet demand from AI labs including Anthropic and OpenAI, as well as other cloud customers.

The proceeds may fund working capital, capital expenditures, share repurchases, acquisitions and repayment of existing debt. The offering is expected to close on November 4, and Microsoft holds an AAA credit rating from S&P.

On the earnings call a day earlier, finance chief Amy Hood said Microsoft had access to the debt markets given its ratings "and we haven't yet tapped that." Amazon and Alphabet have also borrowed in the bond market this year for AI infrastructure, and Oracle announced plans on the same day to raise $10 billion in new debt.

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