economy
February 11, 2026
Alphabet selling very rare 100-year bonds to help fund AI investment
Alphabet becomes first tech company to issue 100-year bonds in nearly three decades.
TL;DR
- Alphabet is issuing a rare 100-year bond in sterling as part of a debut issuance.
- The company is also selling $20 billion in dollar bonds and lining up a Swiss franc bond sale.
- This borrowing spree is driven by Big Tech's massive investments in AI.
- Century bonds are highly unusual, with few tech companies and even fewer in the sterling market having issued them.
- Alphabet's multi-currency bond offering aims to expand its investor pool to meet capital needs.
- Issuing in sterling is considered more cost-effective than the dollar market due to lower interest rates.
- Big Tech companies are expected to invest nearly $700 billion in AI infrastructure this year.
- Alphabet plans to spend up to $185 billion on capital expenditure this year, doubling last year's total.
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