Alphabet Eyes First Aussie Dollar Bond as AI Debt Load Grows

Alphabet Inc., the parent company of Google, is considering issuing its first Australian dollar-denominated bond as it continues to borrow heavily to fund investments in artificial intelligence (AI).

The move comes as US tech firms flood credit markets with debt to fund AI development, according to an emailed statement from Australia & New Zealand Banking Group, one of the mandated banks.

The proposed bond offering would be for a debut Australian dollar-denominated issue, and could include four maturities, including one as long as 20 years.