Alphabet Inc. Issues $25 Billion Bond Offering for AI

Alphabet Inc. is seeking to raise up to $25 billion through a new US investment-grade bond offering. The sale consists of notes in as many as 10 parts with maturities ranging from two to 40 years.

The move follows a period of cooling investor appetite in July, triggered by the company increasing its 2026 spending outlook to as much as $205 billion to fund artificial intelligence investments. High AI infrastructure costs have already caused Alphabet to report its first quarter of negative cash flow since its 2004 initial public offering.

This offering is part of a broader borrowing trend among Big Tech firms. Alphabet and Amazon have led a spree that has seen more than $350 billion in debt raised since 2025.