Alphabet Embarks on Global Bond Spree to Fund Record Spending

Alphabet Inc. is borrowing far and wide to finance the unprecedented spending plan behind its artificial intelligence ambitions, and investors can’t seem to get enough.

The Google parent raised $20 billion in its biggest ever US dollar bond sale on Monday — more than the $15 billion initially expected, after racking up one of the biggest order books of all time. It’s also planning debut deals in Switzerland and the UK, including a rare sale of 100-year bonds — marking the first time a tech company has tried such an offering since the dotcom frenzy of the late 1990s.