Alphabet, the parent company of Google, issued $32 billion in new debt, including U.S. dollar-denominated bonds and sterling and Swiss franc bonds. The company aims to fund its AI infrastructure spending, with plans to invest $185 million this year alone. Other tech giants like Amazon, Meta Platforms, and Microsoft are also raising funds for AI projects.

Hyperscalers like Alphabet, Amazon, Meta Platforms, and Microsoft are all tapping into global debt markets to finance their AI infrastructure spending. Oracle has also issued billions in bonds recently. Bond investors have shown high demand for these offerings as tech companies compete in the AI race. Alphabet’s move to issue new debt is part of a larger trend in the tech industry.

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Read more at Nasdaq: Why Is Google Parent Alphabet Taking on $32 Billion in New Debt?