Nvidia raises $25B in bonds to handle demand
Nvidia announced the issuance of $25 billion in bonds in the US market, following investor demand totaling $85 billion, which exceeds their announced goal of $20 billion. The issuance includes seven tranches with maturities up to 2056. The company plans to use the proceeds for general corporate purposes, such as debt repayment and refinancing, aiming to boost liquidity and reduce borrowing costs. This came after the company's absence from the investment-grade bond market for five years, at a time when global spending on artificial intelligence is expected to exceed $700 billion this year.
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