Google's parent company Alphabet sells rare 100-year bond to fund major AI expansion

Alphabet, the parent company of Google, is raising billions of dollars by selling a rare 100-year corporate bond. This is the first time a major tech company has issued such a long-term bond in about three decades.

The company says it needs the money to fund a massive increase in spending on artificial intelligence. Alphabet's CEO, Sundar Pichai, indicated that capital investments, particularly for AI, could double by 2026, with some reports suggesting AI spending could reach $185 billion. This aggressive spending plan comes after the company reported strong earnings, with Google's revenue surpassing $400 billion for the first time.