AMD priced and then completed a record $4.75 billion senior unsecured bond offering in August 2026, adding long-term funding as its AI and data center expansion increases capital needs. The company split the deal into four tranches maturing from 2029 to 2036: $1.25 billion of 4.60% notes due 2029, $1.50 billion of 5.00% notes due 2031, $1.00 billion of 5.25% notes due 2033 and $1.00 billion of 5.50% notes due 2036. AMD said it expects about $4.7 billion in net proceeds after underwriting discounts and related costs, to be used for general corporate purposes and possibly debt repayment, rather than being specifically earmarked for AI. Final pricing at spreads of 43, 70, 80 and 90 basis points above comparable U.S. Treasury securities was tighter than initial marketing levels, indicating solid demand. After the offering closed, AMD shares fell more than 3% in Tuesday premarket trading, extending a roughly 1% decline the previous session, as Nasdaq futures dropped 1.19% and investors reassessed a premium-valued semiconductor stock that remained up 187.27% over the prior 12 months.