Tech companies rummage for cash to fund the AI buildout - Semafor
Tech companies are turning over the couch cushions in their hunt for money to fund the AI buildout. Meta is prepping a big bond offering that includes its first-ever euro borrowing for up to $15 billion, people familiar with the matter tell Semafor, while Alphabet closed its second euro deal of the year.
The tech giants that have run through US markets are now turning to other pools of capital. Alphabet this year issued its first-ever British sterling bond β a rare βcentury bondβ that comes due in 2126 β along with deals that tapped Swiss and Japanese debt markets. For most companies, broadening lender bases is a test-the-pipes exercise to ensure that diverse funding is available if itβs needed. For hyperscalers today, itβs a globe-trotting bush-beating thatβs crucial to funding the AI buildout thatβs propping up their stock prices.
