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Alphabet Taps Global Bond Markets as AI Spending Surge Drives Financing Needs

Alphabet Inc. is accessing debt markets to fund artificial intelligence infrastructure expansion, completing a $17 billion bond offering and launching a C$8.5 billion ($6.24 billion) Canadian debt deal.

The dual offerings underscore investor confidence in the search giant's ability to monetize AI investments. Wall Street viewed Alphabet's capital deployment more favorably than Meta's approach when both companies boosted capex guidance in first-quarter earnings. The company signaled continued heavy spending on data centers and computing resources.

Alphabet's successive bond sales are testing corporate debt market absorption capacity, with spreads widening as investors digest the volume. The financing moves reflect broader industry dynamics as major technology firms compete for infrastructure supremacy in the AI race, requiring significant capital investments to maintain competitive positioning.