Amazon raises billions in bonds and pledges major investments for AI expansion

Amazon is raising a large amount of money through a record bond sale in Europe to fund its artificial intelligence goals. The company is also announcing major new investments, pledging tens of billions of dollars to build data centers in Spain.

Amazon's CEO, Andy Jassy, has said the company now expects its cloud computing business, AWS, to generate much more revenue from AI than previously forecast. Analysts are adjusting their predictions about how much debt large tech companies focused on AI will take on. Some reports also say Amazon is working on a new smartphone designed around AI features.