Alphabet, the parent company of Google, announced Tuesday it is selling euro-denominated bonds across six tranches, months after raising approximately $32 billion in debt through dollar, sterling, and Swiss franc markets.
According to Bloomberg News, the tech giant is issuing at least €3 billion ($3.5 billion) in bonds. This move follows a massive $32 billion debt raise in February, which included a rare 100-year bond-the first such issuance in the tech sector since Motorola in 1997, according to LSEG data.
Big Tech companies are increasingly turning to debt markets to finance their artificial intelligence ambitions, shifting away from reliance on internal cash flows.