North America's publicly traded information technology companies raised $8.78 billion through capital offerings in May, according to S&P Global Market Intelligence data.

The total represents a surge from the $1.91 billion that the sector raised in April and the year-ago aggregate value of $2.95 billion in May 2022.

The largest share of infotech capital markets activity came from debt offerings at $8.06 billion. Common equity offerings brought in $698.0 million, while preferred security offerings totaled $17.3 million.

Apple Inc. dominated infotech capital markets activity in May with its five-part, $5.25 billion bond offering. Two of these bonds on offer, worth $1.50 billion and $1.25 billion, made the list of top capital offerings in the year to date.

The iPhone-maker plans to use the capital raise proceeds for stock buybacks, dividend payments, debt repayment and funding for working capital, capital expenditures and acquisitions, among other general corporate purposes. It unveiled a $90.00 billion expansion of its stock repurchase program days before the offering's launch.

– Learn more about the collapse in US infotech M&A activity in May. – Read S&P Capital IQ Pro's summary of European IT dealmaking in May. – Run a custom screen of capital offerings by industry or geography on our Transactions Statistics page.

US chipmaker Texas Instruments Inc. also had notable capital markets activity with its three concurrent debt offerings, one worth $1.20 billion and the remaining two worth $200.0 million each. The offerings' proceeds would be used for investments in securities, as well as for working capital and other general corporate purposes.

Texas Instruments returned to the capital markets scene after completing two concurrent offerings in March, which had expected total net proceeds of about $1.39 billion.

Multiple offerings from Intel Corp. and Oracle Corp. continued to lead the infotech sector's capital activity in the year to date.

Semiconductor companies have raised $18.41 billion year to date to remain the most active infotech subsector in terms of capital markets activity. IT consulting and other services companies held on to second place with $10.23 billion, while technology hardware, storage and peripherals companies ranked third with $8.04 billion.