Alphabet is considering issuing its first Australian dollar-denominated bond, with debt financing emerging as a core funding source for its AI infrastructure expansion.

According to Bloomberg, Alphabet, Google’s parent company, has hired banks to arrange its potential debut Australian dollar bond issuance. One of the appointed banks, Australia and New Zealand Banking Group (ANZ), confirmed via email that the offering could span four tenors, with the longest term hitting 20 years. This marks another move by U.S. tech firms flooding into credit markets to raise funds for AI investments. Earlier this month, Alphabet already issued $25 billion in U.S. dollar bonds and raised nearly $85 billion through equity financing. Coupled with the upcoming Australian dollar bond plan, its financing channels for AI capital expenditures are rapidly expanding from the U.S. dollar market to a global multi-currency landscape. Morgan Stanley previously projected that global AI-related bond issuance will reach nearly $570 billion in 2026, more than doubling from last year, with Alphabet standing as one of the most aggressive issuers in this space. As capital spending by large-scale cloud providers continues to climb, debt financing has become a core funding source supporting the expansion of AI infrastructure.