亚马逊公司已设立供应商融资安排，以其采购硬件的价值为抵押，最高可借款800亿美元。这是该公司为在人工智能基础设施上投入数千亿美元的同时保持财务灵活性而采取的最新举措。
Inc. has set up supplier financing arrangements to borrow as much as $80 billion against the value of hardware it buys, the company’s latest move to preserve financial flexibility as it spends hundreds of billions on artificial intelligence infrastructure.
亚马逊迄今为止一直利用其云计算和零售业务产生的现金，以及有史以来规模最大的企业债券发行，为数据中心建设和芯片采购提供资金。
Amazon has so far funded data center construction and purchases of chips with the cash from its cloud-computing and retail operations, and with its biggest-ever corporate bond sales.
但它在很大程度上避免了竞争对手所采用的那种创造性融资安排，包括与投资集团达成协议共同为数据中心建设提供资金，或租赁由其他实体购买的芯片。许多此类交易都聚焦于英伟达公司的芯片，这些芯片为大多数AI工作提供动力，往往是新建数据中心中单一成本最高的组成部分。
But it had largely avoided the sort of creative funding arrangements used by some of its rivals, including deals with investment groups to jointly finance data center construction or to lease chips purchased by other entities. Many of those deals have focused on the Nvidia Corp. chips that power most AI work and are often the single most expensive component of new data center construction.
亚马逊在周四发布财报后的季度文件中披露了这笔有担保贷款融资。该融资可从2027年初起至2028年第三季度止，由公司自行决定是否提取。贷方将获得与该融资相关的部分采购资产的抵押权。亚马逊的文件未具体说明这些资产包含哪些，发言人拒绝置评。
The secured loan facility, which Amazon disclosed in a quarterly filing after reporting earnings on Thursday, can be tapped at the company’s discretion from the beginning of 2027 through the third quarter of 2028. Lenders will get collateral rights over some of the assets purchased in connection with the facility. Amazon’s filing doesn’t specify what those assets included, and a spokesperson declined to comment.
“当我们看到面前有如此巨大的机遇时，我们正在寻找负责任地为其提供资金的方式，以便为客户尽可能大规模地投入，”亚马逊云科技首席执行官马特·加曼周五在接受彭博电视采访时表示。他说，亚马逊正在与合作伙伴合作，“探讨如何在我们大力加速扩张的过程中平衡其中一些现金流。”周四，亚马逊在第三季度财报中披露资本支出增幅大于预期。这些支出导致截至9月30日的一年内自由现金流流出424亿美元。该股在纽约午盘时段下跌约2%。
“When we see such a really large opportunity in front of us, we’re looking for ways to also responsibly fund that so that we can go as big as possible for our customers,” Amazon Web Services Chief Executive Officer Matt Garman said in an interview on Bloomberg Television on Friday. Amazon, he said, was working with partners to “figure out how we can balance some of those cash flows as we’re really ramping up aggressively.”On Thursday, Amazon reported a larger-than-expected increase in capital spending in its third-quarter earnings. The outlays led to a free cash outflow of $42.4 billion during the year ended Sept. 30. The shares were down about 2% at midday in New York.
亚马逊的总支出承诺——包括债务和利息、尚未开始的租赁、收购房产和设备的义务以及其他项目——在9月底膨胀至8830亿美元，比三个月前增长36%，较2025年同期的数字翻了一倍多。
Amazon’s total spending commitments — including debt and interest, leases not yet commenced, obligations to acquire property and equipment and other line items — ballooned to $883 billion at the end of September, up 36% from three months earlier and more than double where that figure stood at the same point in 2025.