Alphabet Inc (NASDAQ:GOOGL) (NASDAQ:GOOG) used to look like a tech company. Now it looks like an industrial giant with a balance sheet to match. In barely a year, Google's parent has leapt from a neat $11 billion in long-term debt to roughly $70 billion — a transformation that says more about the future of tech than any earnings call ever could.How The Debt Blew Up This FastAt the end of 2024, Alphabet was still a classic "capital-light" software behemoth: oceans of cash, minimal borrowing, pristine margins ...