Alphabet (GOOGL-US) Expands Global Bond Issuance to Nearly $300 Billion in AI-Driven Capital Surge

Alphabet (GOOGL-US) is expanding its global bond issuance to nearly $300 billion, up from an initial $200 billion, with demand for tech company debt reaching record levels. The program now includes euro and Swiss franc tranches, adding about $110 billion, with some transactions seeing认购 exceeding $1 trillion. The surge reflects heightened investor appetite for high-credit AI-focused tech issuances providing long-term capital for AI infrastructure. Alphabet reported 2026 capital expenditures of $1.75T–$1.85T, up from 2025, allocated to data centers, AI chips, networking, and compute equipment. Sector-wide, the largest cloud service providers are expected to spend about $7T in 2026, intensifying capital spending and pushing firms to rely more on bond markets. Long-term debt rose to $46.5B in 2025 as Alphabet diversifies maturities and currencies to lock in low-cost, long-term financing while maintaining financial discipline and balancing leverage.