Alphabet sells $6.7 billion in bonds after $500 billion market value loss

Alphabet is selling €6 billion ($6.7 billion) in bonds after a share-price collapse erased roughly $500 billion from its market value last week, driven by investor concerns over AI spending costs. The offering comes as investors question whether returns from AI infrastructure will justify the expense. Alphabet's shares fell over 12% last week after quarterly results showed slower Google Search growth and higher cash burn. Despite this, demand for the new bonds exceeded €17 billion. The bonds are sold in seven tranches with maturities from two to 19 years, with proceeds for general corporate purposes. Alphabet expects capital spending up to $205 billion this year and has $130.5 billion in future data-centre lease commitments. Its shares fell nearly 19% in October, their worst month on record.