Alphabet to issue Japanese yen bonds to fund AI projects
Google's parent company, Alphabet, just announced it will issue bonds in Japanese yen for the first time ever. The goal? To help pay for its rapidly growing artificial intelligence (AI) projects.
While the exact amount isn't public yet, insiders say it could be several hundred billion yen.
Details on the bond sale are expected later this month.
Banks lead Alphabet's Japan debt debut
Mizuho, Bank of America, and Morgan Stanley are handling Alphabet's bond sale, marking its debut in Japan's debt market.
This move comes as tech companies like Alphabet and Amazon ramp up spending on AI by tapping into global debt markets.
With big tech expected to pour more than $700 billion into AI infrastructure this year alone, borrowing has become a go-to way to keep up with rivals and meet soaring demand for smarter tech tools.