NextEra Raises $1.3B in Debt as AI Data Center Power Demand Accelerates

NextEra Energy has raised $1.3 billion in new debt this week, adding to the utility giant’s capital stack as it steps up investment to meet surging power demand from AI and HPC data centers.

According to an 8-K filed Friday, the $186 billion energy firm sold $700 million of 4.40% debentures due March 1, 2031, alongside $600 million of 5.85% debentures due March 1, 2056. Both tranches are fully guaranteed by NextEra Energy.

The issuance gives NextEra access to both intermediate- and long-dated capital, a structure commonly used by large utilities to fund grid upgrades, generation expansion and long-lived infrastructure projects. Proceeds were not itemized in the filing, but the transaction comes as the company accelerates spending across its regulated utility and renewable energy platforms.

That demand outlook has been reshaped in part by NextEra’s expanding partnership with Google Cloud. Late last year, the two companies said they plan to jointly develop multiple gigawatt-scale data center campuses across the U.S. to support rising AI workloads. The agreement calls for co-development of land, interconnection and dedicated generation resources, with three campuses already in development and additional sites under review.

The collaboration highlights how utilities are increasingly moving beyond traditional power supply roles to help structure end-to-end solutions for hyperscale customers, including generation and grid access tailored to large, concentrated loads. It also reflects broader pressure on the U.S. power system as AI compute growth — alongside a parallel shift by some Bitcoin miners into high-density hosting — accelerates the need for new capacity and infrastructure.