Alphabet to sell rare 100-year bond to fund AI expansion, bookrunner memo shows

Alphabet is set to price a rare 100-year bond, ‍a memo from the lead manager seen by Reuters showed, as artificial intelligence-driven spending sparks a surge in borrowing at US ⁠tech giants.

The company is selling 5.5 billion pounds ($7.53 billion) worth of sterling bonds in a five-part deal, according to the memo. The 100-year tranche aims to raise 1 billion pounds.

Alphabet’s sale of the century bond is the tech industry’s first since Motorola’s 1997 ‌issuance, according to ‌media reports.