Alphabet Inc. is raising $15 billion in the US corporate bond market this week, part of a sweeping financing strategy to support its record-breaking $185 billion capital expenditure plan for artificial intelligence.
According to a Bloomberg report, the offering includes seven tranches and has attracted more than $100 billion in demand. The longest tranche, maturing in 2066, is expected to yield roughly 95 basis points above Treasuries.
The Google parent is also preparing to enter the UK and Swiss bond markets for the first time, including a rare 100-year bond, something not seen in the tech sector since the late-1990s dotcom boom.
The borrowing spree follows Alphabet’s announcement last week that it will invest more this year than in the previous three years combined, with the bulk going toward AI infrastructure and data centers. The company said these investments are already lifting search-driven ad revenue.
Other major tech firms are following suit. Combined capex forecasts from Alphabet, Amazon, Meta, and Microsoft are expected to reach $650 billion in 2026, fueling a wave of financing deals and accelerating the buildout of AI computing power.
Alphabet’s capex surge has sparked investor scrutiny. On February 5, when markets broadly tumbled, Google shares fell to $306 after its earnings report highlighted aggressive spending plans. The stock has since recovered modestly, trading around $324 by Monday afternoon.