Google plans $15 billion US bond sale as capex surges
Alphabet is preparing a roughly $15 billion US investment-grade bond sale, Bloomberg reports, citing people familiar with the deal. The offering is expected to be split into as many as seven tranches, with initial price talk for the longest maturity — a 2066 bond — at about 120 basis points over Treasurys. JPMorgan is leading the sale alongside Goldman Sachs and Bank of America.
In a sign of just how attractive lending money to Alphabet is to investors, the bond sale has already attracted more than $100 billion in orders.
The sale follows Google parent Alphabet’s $17.5 billion US bond deal in November and underscores how even tech companies flush with cash are turning to the bond market to finance their huge AI ambitions. Alphabet expects its capital spending to balloon to $175 billion to $185 billion this year, as it races other tech giants shelling out record sums to get ahead in artificial intelligence. In 2025, the company’s total operating income was $129 billion.
In a sign of just how attractive lending money to Alphabet is to investors, the bond sale has already attracted more than $100 billion in orders.
The sale follows Google parent Alphabet’s $17.5 billion US bond deal in November and underscores how even tech companies flush with cash are turning to the bond market to finance their huge AI ambitions. Alphabet expects its capital spending to balloon to $175 billion to $185 billion this year, as it races other tech giants shelling out record sums to get ahead in artificial intelligence. In 2025, the company’s total operating income was $129 billion.
