Nvidia Plans $20 Billion U.S. Bond Offering With Notes Maturing Through 2056

Nvidia is preparing to raise at least $20 billion through a U.S. bond offering, returning to the investment-grade debt market after five years, according to Reuters reporting cited by TradingView.

“The release of the new generation of graphics cards, at NVIDIA as well as AMD, was first accompanied by many promises, with performances well above the previous generation and officially attractive prices”

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TradingView said the planned issuance would consist of seven tranches of notes with maturities extending as far as 2056, and that Nvidia last tapped the investment-grade bond market in June 2021 when it raised $5 billion.

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In the same Reuters-linked reporting, Nvidia’s spokesperson said the company intends to use proceeds for general corporate purposes, including refinancing and repaying existing debt, based on a term sheet reviewed by Reuters.

The Los Angeles Times reported Nvidia sold $25 billion of high-grade bonds, priced on Monday, and said the deal attracted as much as $85 billion of orders or more than three times the size of the bond, according to a person with knowledge of the matter.

The Los Angeles Times said Nvidia sold notes in seven parts with maturities ranging from two to 30 years, and that the yield on the longest portion tightened by 0.25 percentage point to 0.65 percentage point more than Treasuries.

Reuters-linked reporting in the Mercury News said the yield on the longest portion was initially being discussed at around 0.9 percentage point more than Treasuries, and that maturities would range from two to 30 years.

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The Los Angeles Times also described Nvidia as a Santa Clara-based company and said it is spending heavily to support firms that will help build demand for AI, including taking a $5 billion stake in Intel Corp., investing as much as $10 billion in Anthropic PBC, and contributing $30 billion to a massive funding round for OpenAI.

In the same Los Angeles Times account, CreditSights Inc. analyst Andy Li said, "I’m not surprised they would do a drive-by," adding that Nvidia has a dominant market and financial position so it "don’t have to market themselves hard to investors."

Cointelegraph said Nvidia’s planned $20 billion bond sale reinforces booming AI infrastructure demand and strengthens the case for Bitcoin miners pivoting toward AI data centers.

Cointelegraph cited Bloomberg reporting that Nvidia plans to issue notes across seven maturities ranging from two to 30 years, with the longest-dated bonds expected to yield roughly 0.9 percentage points above comparable US Treasury securities.

The same Cointelegraph piece said companies that once relied almost exclusively on Bitcoin mining revenue, including HIVE Digital, TeraWulf, Hut 8 and CleanSpark, are positioning themselves as providers of data center capacity.

Cointelegraph also pointed to Bitcoin mining economics under pressure, saying data from TheEnergyMag showed Bitcoin miners collectively sold more than 15,000 BTC between October and March, and noted that BTC peaked above $126,000 when the treasury sales accelerated.