Alphabet (GOOGL) Eyes $15B High-Grade US Bond Offering

Alphabet Inc. (GOOGL) is seeking to raise about $15 billion in a US high-grade bond offering, continuing its aggressive borrowing to support expanding AI infrastructure. Hyperscalers are forecast to invest over $650 billion this year in AI, with Alphabet planning up to $185 billion in spending this year. The company is expected to sell bonds in as many as seven tranches, with initial discussions for the 2066 maturity at a premium of about 1.2 percentage points above Treasuries. The offering is likely to be supported by a rare 100-year Swiss franc or sterling note. The company last accessed the US bond market in November 2025 with a $17.5 billion offering that attracted about $90 billion in orders. Bloomberg Intelligence estimates global AI, cloud and data center capital spending will reach $3 trillion by 2029.