In a bold move signaling extraordinary investor confidence, Alphabet, Google’s parent company, announced on February 9, 2026, its plan to issue a 100-year sterling bond. This decision positions Alphabet among an exclusive group – joining institutions like the University of Oxford and EDF – borrowing money for a full century to fund a massive $185 billion spending blitz on AI infrastructure. The bond offering, exceeding expectations, was reportedly “five times oversubscribed” with $100 billion in demand, simultaneously boosting the Nasdaq stock index by 1%. This unprecedented issuance for a company founded only 28 years ago underscores the perceived potential of AI, even amidst broader tech bubble concerns.
Google Secures $20 Billion with Century-Long Sterling Bond
The company joins the University of Oxford, the Wellcome Trust, and EDF as one of the few institutions financing projects a full century into the future. This decision arrives as Alphabet plans to raise funds across multiple currencies, exceeding $20 billion overall, to fuel a substantial $185 billion investment in artificial intelligence infrastructure. Notably, Alphabet’s venture is unique given its relatively recent founding just 28 years ago, contrasting with the 800-year history of Oxford when it issued its own century bond in 2017.
The scale of the offering—reportedly “five times oversubscribed with $100bn of demand,” according to Bloomberg—suggests strong investor confidence despite recent stock market volatility. The Nasdaq stock index rallied 1pc on Monday, indicating a positive response to the bond’s success. This bond isn’t an isolated event; Alphabet recently raised $17.5 billion in November and intends to double capital expenditure this year. The surge in demand for AI computing resources is driving this financial activity, with Google and other “hyperscalers” like Amazon and Microsoft engaged in a spending arms race.
$185 Billion AI Infrastructure Spending Fuels Bond Issuance
Google’s decision to issue a 100-year bond in sterling signals a significant commitment to funding its ambitious artificial intelligence infrastructure plans. The company intends to raise over $20 billion (£15 billion) across multiple currencies as part of a larger $185 billion spending initiative. The scale of investment reflects the belief that “AI is a once-in-a-generation breakthrough that will fundamentally reshape society and deliver riches to those that control it,” according to Alphabet and other Silicon Valley companies.
The decision by Google to borrow over a century to fund its AI ambitions acts as a litmus test for investor faith in the technology.
Nasdaq Rally Follows Oversubscribed $100 Billion Bond Demand
Google’s decision to issue a 100-year sterling bond is being met with robust investor appetite, evidenced by a Nasdaq stock index rally of 1pc on Monday. Unlike these established entities, however, Alphabet was founded only 28 years ago, making this a unique undertaking. The company’s recent $17.5 billion bond sale in November further demonstrates its aggressive capital-raising strategy.
