Alphabet Inc. (GOOG) Stock: Plans at Least $9.4B in GBP and CHF Bond Sales

TLDR

• Alphabet plans at least $9.4B in GBP and CHF bond sales
• The move follows a $20B U.S. dollar bond offering
• Funds target AI data centers and infrastructure expansion
• Rare 100-year bond highlights investor appetite for long-dated risk
• GOOG stock trades near $324 as markets assess leverage shift

Alphabet Inc. (GOOG) shares Class C shares trade near $324.40, up about 0.4% in the latest session, as investors digest reports of another major debt issuance.

Alphabet Inc., GOOG
The tech giant is reportedly preparing to raise at least $9.4 billion through bond offerings in the United Kingdom and Switzerland, expanding its global funding push tied to artificial intelligence investment.

Alphabet Turns To Global Debt Markets

According to reports citing people familiar with the matter, Alphabet plans to issue roughly £4.5 billion in sterling-denominated bonds in the UK. The bonds are expected to span maturities from three to 32 years and may include an ultra-rare 100-year bond. Pricing is expected shortly after launch.

In Switzerland, Alphabet aims to raise a minimum of 2.45 billion francs through bonds with maturities ranging from three to 25 years. Together, the UK and Swiss offerings would total at least $9.4 billion, marking a significant expansion beyond the company’s recent U.S. deal.

Following A $20 Billion Dollar Sale

The reported European offerings come just days after Alphabet sold $20 billion in U.S. dollar-denominated bonds across seven tranches. Those notes mature between 2029 and 2066, according to a regulatory filing. The deal ranks among the largest corporate bond sales of the year.

Alphabet stated that the proceeds will support its rising capital expenditure needs, with a sharp focus on AI infrastructure. Data centers, specialized chips, and network capacity now sit at the center of its long-term strategy.

AI Spending Reshapes Big Tech Financing

Alphabet’s move reflects a broader shift across Big Tech. After years of relying on strong cash flows, major technology firms have turned more actively to the bond market. Analysts estimate combined capital expenditure from Alphabet, Microsoft, Amazon, and Meta could reach at least $630 billion this year, driven mainly by AI-related projects.

This spending wave has changed how investors view technology balance sheets. Firms once seen as asset-light now resemble long-term infrastructure builders. As a result, longer-dated debt has become a more common financing tool.

Century Bond Raises Eyebrows

The potential inclusion of a 100-year bond has drawn particular attention. Century bonds typically attract governments or regulated utilities with stable and predictable cash flows. Alphabet’s consideration of such a maturity highlights both investor confidence and growing risk tolerance linked to AI growth.

Market analysts note that the tech industry has not seen a century bond issuance since Motorola’s deal in 1997. The structure signals strong demand for long-duration assets tied to dominant technology platforms, even as AI returns remain uncertain.

Investor Concerns Linger

Despite strong demand, Alphabet’s expanding debt load has sparked debate. Some investors question whether AI investments will deliver productivity gains quickly enough to justify rising leverage. While cloud and AI services continue to grow, businesses adopting the technology have reported mixed efficiency benefits so far.

These concerns have not derailed investor interest yet, but they remain part of the broader narrative around Big Tech valuations and capital discipline.

Stock Performance Remains Strong

Alphabet’s long-term stock performance continues to outpace the broader market. The shares have gained over 74% in the past year and more than 240% over three years, far exceeding S&P 500 returns. Year to date, GOOG remains modestly higher, reflecting both optimism around AI leadership and caution around spending levels.

As Alphabet taps global debt markets, investors now watch how effectively the company converts heavy AI investment into durable revenue growth. The bond sales underline confidence in long-term demand, while also signaling a new phase in how Big Tech funds its ambitions.

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