Alphabet seeks up to $25 billion in US bond sale to fund AI spending

Google’s parent company Alphabet is seeking to raise $20 billion to $25 billion through a new US bond offering, a person familiar with the matter told Reuters on Thursday. The move comes weeks after the tech giant’s 2026 capital-spending outlook sparked a sharp sell-off in its shares.

According to a regulatory filing, reported by Reuters, the offering includes as many as 10 tranches with maturities ranging from two to 40 years.

The bond sale, first reported by Bloomberg, underscores a broader shift among major technology companies, which are increasingly turning to debt markets to finance their costly AI expansion rather than relying primarily on cash reserves.


Amazon, Alphabet, Meta and Oracle issued about $194 billion in bonds through July 7, 2026, a 79% increase from roughly $108 billion in all of 2025, according to a Reuters analysis of LSEG data.

Big Tech is expected to spend over $730 billion on AI this year, straining cash flow. Alphabet reported its first negative free cash flow and raised its spending forecast again, fueling concerns over AI returns and model delays.

Alphabet raised $80 billion through equity offerings in June, including an investment from Berkshire Hathaway, before expanding the deal to nearly $85 billion on strong demand.

The company has also issued bonds in Japanese yen, Swiss francs and pounds, including a rare 100-year bond earlier this year.