Microsoft Joins the AI Boom–Driven Borrowing Spree, Planning to Raise at Least $25 Billion Through US Bond Issuance

Microsoft (MSFT.O) will launch its first high-grade bond offering in over nine years on October 29, aiming to raise at least $25 billion in the U.S. market. The move comes amid surging corporate funding demand fueled by the AI investment boom, placing Microsoft among tech giants ramping up large-scale debt issuance. According to sources familiar with the matter, the bonds will be issued across 10 tranches with maturities ranging from 2 to 40 years—including a super-long-dated tranche maturing in 2066, for which initial pricing guidance is set at up to 135 basis points above U.S. Treasury yields. Wells Fargo, JPMorgan Chase, and UBS Group are serving as joint bookrunners. Proceeds will be used for general corporate purposes, with a focus on supporting capital expenditures. This marks Microsoft’s first return to the bond market since 2017, when it raised $17 billion via a seven-tranche offering—and has not conducted any high-rated bond financing since.