Alphabet is raising up to $5 billion from the Australian bond market in what could be the country’s biggest corporate debt transaction, with the Silicon Valley giant behind Google and Gemini scrambling for cash to finance an artificial intelligence arms race against other big technology companies.
The so-called Kangaroo bond will mark the first time Alphabet has raised debt in Australia, and is part of a year-long move to bolster its war chest for AI spending. Earlier this month, it raised $US25 billion ($35 billion) from the US, and before that had sold bonds in the Canadian, Japanese and Swiss markets. In March, Alphabet issued a 100-year, £1 billion ($1.9 billion) bond in the UK.
Loading…