Alphabet ramps up its debt offering again, pushing the total raise past $30 billion, sources say, as the tech giant deepens its financial firepower to support an ambitious wave of artificial intelligence investments.
According to two people familiar with the matter, the company is nearing completion of a global bond sale worth more than $30 billion. The figure marks a significant increase from the $20 billion Alphabet secured earlier this week, underscoring strong investor appetite for the offering.
On Tuesday morning, Alphabet reportedly tapped European markets, raising roughly $11 billion through bonds denominated in British pounds and Swiss francs. The individuals, who requested anonymity due to the private nature of the deal, said demand was robust. Bloomberg earlier reported that the company’s total fundraising had approached $32 billion.
Strong Demand for Big Tech Debt
Market participants say investors are eager to buy high-grade bonds issued by leading technology companies, particularly those at the forefront of artificial intelligence. With AI transforming industries and driving long-term growth expectations, debt from established tech heavyweights is viewed as relatively safe and attractive.
Alphabet’s capital-raising efforts come as spending plans escalate sharply. In its most recent earnings report, the company projected up to $185 billion in capital expenditures for the year — more than double its 2025 spending levels. Alphabet is part of a group of major cloud and AI players, often referred to as hyperscalers, alongside Amazon, Meta and Microsoft. Together, these companies are expected to pour nearly $700 billion into infrastructure and technology investments in 2026.
The surge in spending reflects the high costs associated with advanced AI chips, expansive data centers and upgraded networking systems. Analysts warn that as these investments accelerate, free cash flow across the sector could decline significantly in the near term.
Tech Giants Turn to Debt Markets
Alphabet is not alone in leaning on the bond market to finance growth. Oracle became the first major tech firm to issue debt in 2026, raising $25 billion last week. Meta is also preparing a sizable bond sale in the early part of the year, aiming to expand its data center footprint across the United States, sources said.
Alphabet previously completed a $25 billion bond offering in November. Over the course of 2025, the company’s long-term debt surged fourfold, reaching $46.5 billion.
Speaking during last week’s earnings call, Chief Financial Officer Anat Ashkenazi emphasized a balanced approach to funding. As Alphabet evaluates its extensive investment plans, she said the company remains focused on financial discipline. “We want to make sure we do it in a fiscally responsible way, and that we invest appropriately, but we do it in a way that maintains a very healthy financial position for the organization,” Ashkenazi said.
With investor demand strong and AI ambitions growing, Alphabet appears determined to secure the capital it needs — even if that means returning to the bond market again and again.
