Alphabet’s Jumbo Bond Sale Draws $115 Billion of Investor Demand

(Bloomberg) — Alphabet Inc. has received about $115 billion of orders for its latest jumbo bond sale, signaling renewed investor appetite for debt tied to the artificial intelligence boom after a recent selloff.
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With an order book of that magnitude, the deal has attracted more than four times the anticipated size of as much as $25 billion, according to people with knowledge of the matter, who asked not to be identified because they’re not authorized to speak publicly.
Bank of America Corp., Citigroup Inc., and Wells Fargo & Co. — three of the managers on Thursday’s bond sale — declined to comment. Alphabet and the deal’s other managers — Goldman Sachs Group Inc., JPMorgan Chase & Co. and Morgan Stanley — didn’t respond.
The demand surpasses that seen on other recent AI bond offerings from companies including Amazon.com Inc. and SpaceX. The Alphabet deal is offering investors relatively high concessions to attract demand.
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