Amazon.com is targeting about $37 billion to $42 billion in its latest bond sale, Bloomberg News reported on Tuesday, citing people familiar with the matter.

The reported figure would mark one of the latest corporate bond offerings as the company looks to fund its spending on artificial intelligence infrastructure build ‌out.

The offering ⁠attracted about $126 ⁠billion of peak demand for bonds in the US, Bloomberg News reported, indicating the bonds were heavily oversubscribed.

The company is offering bonds denominated in both dollars and euros, the report added.

The Amazon Web Services parent is marketing US high-grade bonds in as many as 11 tranches, according to a regulatory filing with the SEC.

Amazon did not immediately respond to a ⁠Reuters request ‌for comment.

The company's deal is the latest in a string of massive bond issuances by hyperscalers, as they prepare to invest ⁠hundreds of billions of dollars in AI infrastructure.

Investor appetite for high-grade corporate debt has remained strong, with large technology issuers drawing significant attention as investors seek relatively safe yields.

Bond markets have been receptive to jumbo offerings this year, particularly from cash-rich hyperscalers looking to fund their long-term AI and cloud infrastructure ambitions.

Analysts say the strong credit profiles of such technology firms and their central role in ‌the AI buildout have helped sustain investor demand for their debt.

In February, Google-parent Alphabet raised about $32 billion in the U.S. and European high-grade bond markets, including ⁠a rare 100-year bond, the tech industry's first since Motorola's issuance that dates back to 1997, according to LSEG data.

Meanwhile, Oracle said last month that it expects to raise $45 billion to $50 billion in 2026 using a combination of debt and stock sales to build additional capacity for its cloud infrastructure.

Amazon last tapped the market in November, with a dollar-denominated bond issue worth about $15 billion, which was its first U.S. bond sale in three years.