Alphabet Inc. will raise $15 billion in the U.S. corporate bond market this week, part of a sweeping fundraising strategy to support a record $185 billion capital spending plan for artificial intelligence.
The offering includes seven tranches and attracts more than $100 billion in demand, Bloomberg reported. The longest tranche, due in 2066, is expected to yield about 95 basis points above U.S. Treasuries.
Google’s parent company is also preparing for its first foray into the British and Swiss bond markets, including a rare 100-year bond not seen in the tech sector since the dot-com boom of the late 1990s.
The borrowing surge follows Alphabet’s announcement last week that it will invest more this year than in the past three years combined, with the bulk of that going toward AI infrastructure and data centers. The company said these investments are already increasing search-driven advertising revenue.
Other big tech companies are following suit. Combined capital spending forecasts from Alphabet, Amazon, Meta, and Microsoft are expected to reach $650 billion in 2026, accelerating the wave of loan deals and accelerating the build-out of AI computing capacity.
Alphabet’s surge in capital spending has drawn scrutiny from investors. On February 5, during a broad market selloff, Google stock fell to $306 after an earnings report highlighted aggressive spending plans. The stock has since slowly recovered, trading around $324 by Monday afternoon.
