Tech giants are sparking a funding frenzy! Alphabet plans to issue Australian dollar bonds for the AI battle.

Alphabet Inc., Google's parent company, has hired banks to prepare for its first Australian dollar bond issuance, marking the latest move by U.S. tech companies to raise funds in the credit market for artificial intelligence initiatives. One of the underwriters, Australia & New Zealand Banking Group, stated in a recent email that Alphabet may issue "Kangaroo bonds" with maturities of 3 years, 5 years, 10 years, and 20 years.