Alphabet sells €6 billion in bonds, testing tech debt demand after AI selloff

Alphabet launched a €6 billion bond sale on Monday, testing investor appetite for tech debt after a recent selloff fueled by doubts about the AI trade. The offering drew over €17 billion in total demand. The bonds span seven tranches with maturities from 2 to 19 years, including one floating-rate and six fixed-rate notes. Alphabet plans to use proceeds for general corporate purposes, potentially repaying outstanding debt, with Barclays, BNP Paribas, and Deutsche Bank managing the sale. The move follows Alphabet's shares falling over 12% last Thursday, its worst day ever, after quarterly results showed slower Google Search growth and high cash burn. The company expects capital spending up to $205 billion this year, with analysts anticipating more tech bond sales in Europe.