The loan comes just two days after it was reported that Amazon would also raise $14 billion in a Canadian bond sale, bringing its total new financing to roughly $31.5 billion in the span of roughly 48 hours.

It’s not clear exactly how Amazon plans to spend all the new money. Reuters notes that the new loan will be used for “general corporate purposes.” TechCrunch has reached out to Amazon for more information.

Amazon is hardly alone. To fund new AI infrastructure like chips and data centers, companies are leveraging historic capex. Increasingly, companies are borrowing money to fund their massive AI buildouts. The question investors and analysts are increasingly asking isn’t whether this spending is necessary — it’s whether the returns will ever justify it.

The scale of the borrowing is striking even by Silicon Valley standards. About a week ago, Google parent company Alphabet said that it planned to raise $80 billion through a stock sale designed to help “fund its investments in a balanced way while retaining a healthy balance sheet.” Meta has also announced plans to raise $30 billion in a bond sale — its largest ever.