Amazon has secured a supplier financing arrangement allowing it to borrow up to about $80 billion against hardware purchases, supporting its artificial-intelligence and cloud infrastructure expansion. The facility marks a shift from the cash-and-bonds approach Amazon has historically used to build data centers and acquire chips. Amazon can draw on the facility at its discretion from the first quarter of 2027 through the third quarter of 2028, with borrowing capacity determined by purchase orders, timing and pricing. Loans will carry variable interest rates, mature five years after each draw and be secured by interests in certain purchased assets; outstanding amounts will be classified as long-term debt. Amazon reported $75.9 billion in cash capital expenditures during the third quarter and $172.2 billion during the first nine months of 2026, while maintaining a $220 billion full-year outlook and forecasting a meaningful increase in 2027. Free cash flow was an outflow of $42.4 billion for the 12 months ended Sept. 30, compared with an inflow of $14.8 billion a year earlier. Long-term debt rose to $173.1 billion from $65.6 billion at the end of 2025, and total principal contractual commitments reached $883.6 billion. AWS sales increased 39% to $46.0 billion in the third quarter. Amazon has mainly relied on bond sales and cash generated by its cloud and retail businesses, unlike some competitors that have used third-party ownership or co-financing of infrastructure.