Google (GOOGL.US) hit by both stocks and bonds plunge! AI spending fears drag down stock price, and "century bonds" simultaneously fall below 90% of face value

Zhihu Caijing APP reports that in February this year, when Google’s parent company Alphabet (GOOGL.US) issued a £1 billion century bond in the sterling market, maturing in 2126, the offering received nearly 10 times oversubscription. At the time, it was the first century bond issued by a tech company since Motorola in 1997, and was regarded as a milestone event amid the AI infrastructure investment boom. Five months later, the price of this bond has dropped to 89.978 pence—falling below 90% of its face value for the first time. Meanwhile, Alphabet’s share price declined after the earnings report, down about 7% in early Thursday trading as of press time.