Alphabet is raising up to $5 billion from the Australian bond market in what could be the country’s biggest debt transaction ever, with the Silicon Valley giant behind Google and Gemini scrambling for cash to finance an artificial intelligence arm race against other major technology companies.
The so-called Kangaroo bond, the first time Alphabet has raised debt in Australia, is part of year-long move to bolster a war chest for AI spending, with the company raising $US25 billion ($35 billion) earlier this month from Canadian, Japanese and Swiss investors. In March, the company issued an 100-year, £1 billion ($1.9 billion) bond in the United Kingdom.
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