Amazon attracted about $126 billion (£94bn) of peak demand for its bond sale on Tuesday, reports indicated, one of the largest ever for a corporate offering, in an indication of continued strong demand for debt from large tech companies amid broader economic turbulence.

Oracle drew $129bn in orders for a bond sale in February, while Meta drew $125bn for its bond sale last October, as tech firms turn to debt markets to fuel massive spending on AI data centres.

Amazon is planning to offer as many as 11 tranches on the US high-grade debt market, ranging from two to 50 years, and is also marketing an eight-part euro-denominated bond sale this week.

The company raised $15bn last November as part of its first US bond sale in three years, while Google parent Alphabet raised more than $30bn in issuance across dollar, sterling and Swiss franc denominated debt last month.

Amazon saw its shares fall in February after announcing plans to spend $200bn on capital expenditures this year, mostly on AI infrastructure, a higher figure than competitors Google and Microsoft.

Tech companies’ continued AI spending has faced a more difficult conditions this year, as investors look for more clarity around returns from unprofitable investments.

“We’re going to invest to be the leader in this space,” Amazon chief executive Andy Jassy told investors on a company call, justifying spending on custom AI chips, robotics and low Earth orbit satellites.