Capital markets activity among publicly traded IT companies in the U.S., Canada and Bermuda brought in $9.32 billion in January, according to S&P Global Market Intelligence data.

Last month's total marked a massive surge from the $215 million raised in December 2022 and nearly matched the levels last seen in March 2022, when the sector raised $9.44 billion.

Debt offerings accounted for most of the infotech capital activity in January at $8.19 billion, while common equity offerings brought in $103.6 million. Preferred security offerings raised $1.03 billion, the biggest amount raised through such capital activity since the May 2021 total of $500.0 million.

Two companies led the sector's capital activity in January.

International Business Machines Corp. on Jan. 30 raised $6.11 billion through six concurrent senior debt offerings, the proceeds of which will be used for general corporate purposes. One of these offerings, worth €1.25 billion, and two others each amounting to €1.00 billion were the three biggest infotech offerings last month.

* Read through a detailed list of IBM's capital offerings. * Run a custom screen of capital offerings by industry or geography on our Transactions Statistics page.

Dell International LLC on Jan. 9 sold $1.00 billion of senior debt each in two separate offerings, which were the fourth and fifth biggest in the sector. The Dell Technologies Inc. unit intends to spend the offerings' proceeds on repaying existing debt and other general corporate purposes.

The past 13 months saw Facebook's parent entity, Meta Platforms Inc., as well as Oracle Corp., Apple Inc. and Intel Corp. dominating the list of the largest infotech capital offerings. Meta in August 2022 raised $10.00 billion from four concurrent debt offerings, three of which were at the top of the list.

IT consulting and other services companies raised the most capital among other infotech subsectors as of January-end with $6.14 billion, followed by technology hardware, storage and peripherals companies with $910 million.