Aug. 8 at 12:46 AM
Alphabet is reportedly seeking to raise up to
$25 billion through a new U.S. investment-grade bond offering, testing investor appetite for debt linked to the massive AI infrastructure spending boom. The offering could include as many as 10 tranches with maturities ranging from two to 40 years, with the longest-dated bonds initially priced at roughly 155 basis points over U.S. Treasuries.
The planned issuance comes just two weeks after Alphabet raised its 2026 capital-spending forecast to
$205 billion, more than double its 2025 spending, reigniting concerns over whether its enormous AI investments will generate sufficient returns. Investor demand for AI-related debt weakened in July, with newly issued bonds tied to projects from companies including Meta, Amazon and SpaceX seeing wider spreads.
Alphabet has already issued more than
$50 billion of debt during the first half of 2026 and raised nearly
$85 billion through an equity offering two months ago.
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