Google parent plans to issue a 100-year bond

Alphabet, which owns Google, is selling a 100-year bond as part of a large bond sale to help finance its massive capital plans and AI infrastructure, marking a rare move in the tech industry.

The last time a tech firm offered bonds with such a long maturity was Motorola in 1997, according to Bloomberg.

Alphabet plans to raise $20 billion in dollar bonds, higher than the earlier $15 billion target, and will also issue debt in British pounds and Swiss francs.

Alphabet joins Oracle, which sold $25 billion in debt last week, as big tech ramps up borrowing to fund costly AI plans.

Despite the surge in spending, Alphabet carried less than $11 billion in long-term debt as of March. Analysts say the big bond issuance reflects confidence in the company’s long-term prospects.