Alphabet Taps the Bond Market Again for Up to $25 Billion

Meta was ordered by a New Mexico court to pay $567 million to a fund for teen mental health and related harms, on top of $375 million in earlier civil penalties, and must make product changes. Stanford and Arc scientists reported AI-created viable bacterial viruses. Alphabet sold $25 billion of investment-grade bonds, amid rising capex and negative free cash flow.

Eurobank Research said Cyprus construction stayed strong in H1 2026, citing Q1 data on permits, output, mortgage lending and confidence, but warned permit figures cover Jan to Mar before Middle East tensions. Alphabet reorganized AI leadership, moving Demis Hassabis to chief scientist; Alphabet shares fell 4%. Cyprus inflation eased to 2.9% in July. Morgan Stanley raised price targets for Alpha Bank (€5.00) and National Bank of Greece (€17.60).

Alphabet, according to Reuters, plans to issue up to $25B of dollar-denominated corporate bonds in 10 tranches with maturities from 2 to 40 years. Orders reached $115B, over four times the amount. The 40-year notes are discussed at about 1.3 percentage points over U.S. Treasuries. The move follows AI-driven capex that pushed quarterly free cash flow negative and raised 2024 spending to $205B.

Alphabet raised $25 billion via an investment-grade bond sale on Aug 6, with about $115 billion in peak demand, according to people familiar with the deal. It sold 10 tranches maturing from 2 to 40 years. The longest-tenor yield premium was 1.3 percentage points over Treasuries. Alphabet plans to issue $ debt twice yearly, after AI-spending concerns had pressured tech bond sentiment.

Alphabet is seeking to raise $20 billion to $25 billion via a new U.S. bond offering, with notes in up to 10 tranches and maturities from 2 to 40 years, according to regulatory filings and people familiar with the matter. The debt plan follows recent increases in Alphabet’s capex outlook and its first negative free cash flow, with proceeds for general corporate purposes including AI infrastructure and refinancing.

Alphabet is seeking to raise $20 billion to $25 billion via a new US bond offering, according to a source and a regulatory filing. Notes may be issued in up to 10 parts with maturities from 2 to 40 years. The sale follows Alphabet’s AI-driven capex increases, including negative free cash flow in Q2, and prior equity and international debt issuance.