Alphabet Sells Almost $32 Billion Bonds as Tech Races to Fund AI

Alphabet Inc. raised almost $32 billion in debt in less than 24 hours, showing the enormous funding needs of tech giants competing to build out their artificial intelligence capabilities — and the huge appetite from credit markets to fund them.

The Google parent sold sterling and Swiss franc-denominated offerings, both of which were the biggest-ever corporate bond sales in their respective markets. Those deals followed Monday’s $20 billion dollar debt sale. The sterling issue included an ultra-rare 100-year note — the first sale with such an extreme maturity by a technology firm since the dot-com era, according to data compiled by Bloomberg.