Alphabet plans to sell bonds worth 3 billion euros. The funds raised will be invested in AI
Growing investments in cloud infrastructure and artificial intelligence by Google subsidiary Alphabet have forced it to enter the European debt market.
Growing investments in cloud infrastructure and artificial intelligence by Google subsidiary Alphabet have forced it to enter the European debt market.
According to Bloomberg, the technology company will issue six tranches on the European bond market with maturities ranging from three to 39 years. The total sale is expected to be at least 3 billion euros.
This is Alphabet's second entry into the European market this year; the company previously announced a bond sale worth 6.75 billion euros, as the American technology giant seeks to diversify its funding sources.
The bond sale comes after Alphabet reported a sharp increase in demand for its cloud and artificial intelligence services last quarter, with third-quarter sales rising to $87.5 billion.
Now, as a result of the European Commission's investigation into Google's privileged position, the company has sent Brussels a new plan for changes to its search results in order to close an antitrust investigation under the Digital Markets Act. Under this law, fines can reach up to 10% of the company's global revenue, or $35 billion.
Earlier it was reported that Google will invest $15 billion over five years to create a campus of artificial intelligence data centers in the state of Andhra Pradesh. The capacity of the first phase is 1 GW.
Meanwhile, Microsoft investors are alarmed by the company's spending on AI, which has reached a record $35 billion.
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