Updates with more details on bond tenors, background on Amazon and Big Tech AI funding

May 12 (Reuters) - Google parent Alphabet GOOGL.O is planning its first multi-tranche yen-denominated bond sale, according to a term sheet seen by Reuters on Tuesday, as technology giants increasingly tap debt markets to fund AI infrastructure spending.

The term sheet did not disclose the size of Alphabet's bond sale, but a source with direct knowledge of the deal had told Reuters on Monday that the issuance was expected to total several hundred billion yen.

E-commerce giant Amazon AMZN.O is also preparing to issue a six-part bond offering in Swiss franc denomination for the first time, a person familiar with the matter told Reuters on Monday.

The overseas bond sales underscore how surging spending on artificial intelligence is leading American technology companies to court investors beyond the U.S. in the high-stakes race.

Big Tech is expected to spend more than $700 billion on AI infrastructure this year, a sharp increase from $410 billion in 2025. That has led the companies to rely more on debt, after putting to use their large cash flows for years.

Alphabet's yen-denominated bond sale will be in maturities of three, five, seven and 10 years, along with longer-dated notes of 15, 20, 30 and 40 years, although one or more tranches could be dropped subject to demand and market conditions, the term sheet showed.

Alphabet has mandated Mizuho 8411.T, Bank of America BAC.N and Morgan Stanley MS.N to work on the transaction.