Alphabet Inc, the parent company of Google, is exploring a potential bond sale in Hong Kong and Singapore dollars worth approximately $3 billion, as it looks to diversify its funding sources amid growing investor concerns over artificial intelligence (AI) investments.
According to a Bloomberg report citing people familiar with the matter, the technology giant has held discussions with banks and investors about a possible debt offering as early as this month.
The company is considering raising the equivalent of $1 billion to $1.5 billion through Hong Kong dollar-denominated bonds and around $1.5 billion through Singapore dollar bonds. The proceeds would be used for general corporate purposes, the report said.
However, discussions are still underway, and the size, timing and other details of the proposed transaction could change.
The potential bond issuance comes at a time when global financial markets are facing renewed volatility following a selloff in artificial intelligence and technology stocks.