Alphabet's 100-year bond explained, plus a closer look at AI's impact on software stocks
Alphabet issued $32 billion in bonds including a rare 100-year maturity maturing in 2126 to fund AI infrastructure, signaling Big Tech's shift from free cash flow to debt financing for capital-intensive buildouts. Meanwhile, software stocks face sustained pressure as investors rotate capital toward cyclical sectors and international markets amid uncertainty over AI's ultimate winners and losers.