Alphabet (GOOGL) expands global bond push as AI funding needs strain debt markets

Alphabet Inc. (GOOGL) is preparing a yen bond sale after raising $17 billion in the U.S. market, extending a four-month borrowing campaign that could approach $60 billion as it funds artificial intelligence infrastructure, Bloomberg reported May 14, 2026. The Google parent has issued debt in euros, Canadian dollars, U.S. dollars, pounds and Swiss francs this year, with only about 55% of its bond debt now denominated in dollars. Its euro debt totals about 22 billion euros, or $26 billion, ranking it among the largest non-financial issuers in that market. The yen transaction could close as soon as May 15, 2026. Tech companies have sold more than $300 billion of debt to U.S. investors for AI spending, while Barclays estimates nearly 40% of U.S. high-grade non-financial issuance in 2026 has come from technology companies. Amazon.com Inc. (AMZN) also raised more than $3 billion in its first Swiss franc bond deal.