TOKYO, May 11 Alphabet plans to sell Japanese yen-denominated bonds for the first time, it disclosed in a filing on Monday, as technology giants tap debt markets to fund artificial intelligence infrastructure deployments.
The Google parent did not disclose the size of the offering
The issuance is expected to total several hundred billion yen, said a source with direct knowledge of the deal, adding that the terms are expected to be decided this month. The person was not authorized to speak on the matter and declined to be identified. Alphabet did not immediately respond to a Reuters request on the offering size.
Alphabet has mandated Mizuho, Bank of America and Morgan Stanley to work on the transaction. Morgan Stanley did not immediately respond to a request for comment, while Bank of America and Mizuho declined to comment. The world’s largest technology companies are tapping debt markets to fund costly artificial intelligence ambitions, in a shift from Silicon Valley’s traditional reliance on cash for investments.