Google issued 100-year bonds maturing in 2126. Already raised $20B instead of the planned $15B.
The money is needed to win the AI arms race ($185B CapEx in 2026 alone). This is the first 21st-century tech giant to literally declare its immortality and 100% belief in the future of AI.
I checked and the last time something like this happened was Motorola in '97 — right before its decline began. Michael Burry (the guy who predicted the 2008 crisis) already snarkily noted this similarity: when a tech giant starts borrowing from great-great-grandchildren, it usually smells not of greatness but of the beginning of the end. Or not.