Alphabet has lined up banks to sell a rare 100-year bond, stepping up a borrowing spree by Big Tech companies racing to fund their vast investments in AI this year.
As others have observed, few companies from 1926 have survived 100 years without completely evaporating (e.g., Texaco) or defaulting on their bonds (GM). How many tech companies of 2000 are anything like their former importance? A few. Many others are either gone or of such limited importance as to be unrealistic payers of bond interest.
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