Amazon.com, Inc. (AMZN): A Top Tech Stock in Louis Navellier’s Eyeing Swiss Debt for AI Spending
Amazon.com (NASDAQ:AMZN) is one of the top tech stocks in Louis Navellier’s portfolio. On May 11, Bloomberg reported Amazon.com (NASDAQ:AMZN) plans to issue Swiss franc bonds to fund artificial intelligence spending. The tech giant has reportedly engaged the services of BNP Paribas, Deutsche Bank, and JPMorgan Chase as it considers a six-part Swiss franc bond sale with maturities ranging from three to twenty-five years.
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Amazon joins other tech companies that have issued bumper-sized bonds to diversify beyond dollar-denominated debt and raise much-needed capital for AI infrastructure development. Alphabet has already raised $3.9 billion in Swiss bonds to fund its AI efforts. Tech giants are turning to the Swiss market for debt as they plan to invest $725 billion in AI data center equipment, among other expenditures, this year.
Similarly, Amazon is strengthening its prospects in the pharmaceutical sector by adding Novo Nordisk’s Ozempic pill for the treatment of type 2 diabetes to its kiosks and same-day delivery. It is to offer same-day delivery in 3,000 locations, with plans to expand to 4,500 by year’s end. Ozempic addition follows the early-year inclusion of Novo Nordisk’s weight-loss drug Wegovy, as the company looks to capitalize on the growing opportunity in diabetes treatment and weight-loss management.
Amazon.com, Inc. (NASDAQ:AMZN) is a diversified technology company and retail giant focused on e-commerce, cloud computing, digital streaming, and artificial intelligence. It operates the world’s largest online marketplace, provides infrastructure via AWS, produces entertainment content, and develops consumer electronics like Kindles and Alexa-enabled devices.
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