Alphabet Inc., the parent company of Google, YouTube, and various other segments, has released its financial statement for the fiscal year ending December 31, 2023. The statement indicates the following key figures:

• Total assets: $1 trillion
• Total liabilities: $500 billion
• Total equity: $500 billion

Now, Alphabet Inc. is contemplating a strategic expansion of its YouTube segment to further solidify its position in the online video streaming market. Assess the potential impact of this expansion on the company's balance sheet, considering changes in assets, liabilities, and equity. Additionally, discuss the potential ramifications for financial leverage and risk management that Alphabet Inc. might encounter as it pursues this expansion strategy. Be sure to analyze how various financing options and risk mitigation strategies could influence the company's overall financial health and shareholder value.