Alphabet Inc. (NASDAQ:GOOGL) is one of the Best American AI Stocks to Buy Now.
On May 5, Bloomberg reported that Alphabet raised over $17 billion by selling Euro-denominated bonds and its first Canadian-dollar notes to fund investments in artificial intelligence
Pixabay/Public Domain According to the report, the company priced €9 billion ($10.5 billion) in euro bonds, citing people with knowledge of the matter. It added that the sale in six parts drew more than €18.3 billion of bids. Additionally, the Google parent also raised C$8.5 billion ($6.2 billion) from a four-part bond sale in Canadian dollars.
Last week, Alphabet reported that consolidated revenues surged 22% to $109.9 billion, the company’s 11th consecutive quarter of double-digit growth. During the period, revenues from Google Services jumped 16% to $89.6 billion, mainly due to a 19% growth in Google Search & other, 19% in Google subscriptions, platforms, and devices, and 11% in YouTube ads. Based on 73 analyst ratings compiled by CNN, 86% rated Alphabet’s shares Buy, while 14% rated them Hold.