Nvidia initially planned to raise $20 billion, but due to overwhelming investor demand—which exceeded $85 billion—the offering size was increased to $25 billion.
The bonds are divided into seven tranches with various maturities—ranging from 2 to 30 years (with the final tranche maturing in 2056).
The offering was organized by Wall Street’s largest investment banks—Goldman Sachs, JPMorgan Chase, and Morgan Stanley. An Nvidia spokesperson stated that the proceeds will be used for general corporate purposes, including the repayment and refinancing of existing debt.
As of April 2026, the company’s long-term debt stood at approximately $7.5 billion. The strategic rationale is that cheap, long-term funding lowers the company’s weighted average cost of capital (WACC). This allows the company to comfortably finance global investments in AI and partnerships.
The company plans to continue investing in key developers (such as OpenAI, Anthropic, and Intel) without jeopardizing its high AA credit rating.
The timing of the offering was perfect: the launch coincided with news of a peace agreement between the U.S. and Iran, which stabilized the credit market and narrowed spreads (minimum markups) to their lowest levels.
Amid news of the bond offering, Nvidia’s stock rose 3.5% on the stock exchange.
