Alphabet Seeks Australian Dollar Bonds to Fuel AI Expansion
Alphabet, the parent company of Google, is reportedly eyeing Australia's bond market to raise funds for its AI investments. This move comes after the tech giant already borrowed billions in various currencies this year, including a $25 billion bond issue in the US dollar market earlier this month.
The news agency Bloomberg reported that Alphabet has hired bankers to facilitate what would be its first offering of Australian dollar bonds. The company may sell notes across four maturities, including as long as 20 years, according to an emailed statement from Australia & New Zealand Banking Group reviewed by the news agency.
This development follows a trend of Big Tech companies flooding credit markets with debt to fund their AI investments. Alphabet, along with firms like Meta Platforms and Amazon.com, has raised hundreds of billions in dollars and other currencies this year. The company also recently raised nearly $85 billion through an equity offering.