Alphabet Markets Massive Europe Bond Sales in AI Funding Push

Alphabet sold billions of dollars in sterling and Swiss franc-denominated bonds today, widening its funding avenues as the Google parent plans as much as $185 billion in capital expenditures this year.

For the £5.5 billion ($7.5 billion) sterling portion, the company offered several tenors including an ultra-rare issue of a 100-year note. The Swiss offering raised 3.1 billion Swiss francs ($4.1 billion) across various maturities. Both sales set records for corporate bonds in the respective markets.

Alphabet’s sterling and franc bond offerings follow a $20 billion dollar debt sale yesterday that drew the strongest-ever orders for a corporate bond offering. The company plans to double its capital expenditures this year as the artificial-intelligence race heats up among tech giants.

Alphabet isn’t alone in relying on bond sales to help fund its AI ambitions. Morgan Stanley expects borrowing by the massive cloud-computing companies known as hyperscalers to reach $400 billion this year, up from $165 billion in 2025. —

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