A360
Key Takeaways✦ Atlas AI
01
Alphabet issued euro bonds for AI.
02
Tech firms increase AI debt funding.
03
AI infrastructure spending to exceed $700B.
Atlas AI
Alphabet, Google’s parent company, launched a six-tranche euro-denominated bond offering on Tuesday, May 5, as it seeks funding for rising artificial intelligence investment.
The company is selling at least 3 billion euros ($3.5 billion) in the offering, sources News reported, citing a person with knowledge of the matter. Alphabet previously raised about $32 billion in debt by tapping the U.S. dollar, sterling and Swiss franc markets.
Big technology companies have increasingly turned to debt markets to help fund expensive AI development and infrastructure, marking a shisources from Silicon Valley’s traditional reliance on cash for major investments. Big Tech is now expected to spend more than $700 billion on AI infrastructure this year, up from $410 billion in 2025.
Alphabet last week raised its annual capital spending forecast by $5 billion to between $180 billion and $190 billion, and said it was planning another significant increase in 2027.
Analysts have said Google is capturing a large share of new computing demand, supported by its AI tools for businesses and custom chips that have attracted customers such as Anthropic.
Alphabet’s euro bond sale follows Meta’s $25 billion investment-grade bond raise last week. Alphabet’s roughly $32 billion debt raise in February included a rare 100-year bond, which LSEG data show was the tech industry’s first since a similar issuance from Motorola in 1997.
