Investing.com -- Nvidia Corp. is preparing to sell investment-grade bonds for the first time in approximately five years, according to Bloomberg News. The chipmaker aims to raise at least $20 billion through the offering.

The company is offering bonds across seven different maturity periods, ranging from two to 30 years. The longest maturity bonds are being marketed at a spread of approximately 0.9 percentage points above Treasury yields, according to a person familiar with the matter who requested anonymity.

The proceeds from the sale will be used for general corporate purposes, including the repayment and refinancing of existing notes.

Goldman Sachs Group Inc. (NYSE: GS), JPMorgan Chase & Co. (NYSE: JPM), and Morgan Stanley (NYSE: MS) are managing the bond offering.

Nvidia last accessed the investment-grade bond market in June 2021, when it raised $5 billion.

Several technology companies, including Alphabet Inc. (NASDAQ: GOOGL) and Amazon.com Inc. (NASDAQ: AMZN), have been borrowing funds to expand computing infrastructure for artificial intelligence applications. These companies have collectively raised hundreds of billions of dollars since last year, with investors continuing to purchase the debt offerings.