In a historic move, Alphabet (Google’s parent company) is reportedly preparing to issue 100-year “Century Bonds” to fund its aggressive expansion into artificial intelligence.
If finalized, this would make Alphabet the first major technology company to issue debt with a 100-year maturity since the late 1990s (IBM and Motorola), signaling a “generational bet” on the permanence of AI infrastructure.
Key Details of the Offering
The century bond is part of a larger, multi-currency debt spree designed to diversify Alphabet’s investor base.
| Feature | Details (February 2026) |
| Maturity Date | 2126 (The principal will not be repaid for 100 years) |
| Currency | Primarily British Pounds (Sterling) |
| Total Debt Raise | Approx. $20B+ across USD, GBP, and Swiss Francs |
| Lead Purpose | To fund $185B in AI Capital Expenditure (Capex) this year |
| Target Buyers | UK pension funds and insurance companies |
Why is Google Borrowing for a Century?
1. AI as “Civilizational Infrastructure”
Wall Street analysts view the 100-year horizon as a formal acknowledgment that AI is no longer a “trend” but a foundational utility, akin to railways or dams. Building data centers and securing energy grids requires the kind of long-term capital usually reserved for sovereign nations or centuries-old universities (like Oxford).
2. Diversifying the Investor Base
By issuing in British Pounds, Alphabet is tapping into a specific pool of UK-based institutional investors (pension funds) that have a high demand for ultra-long-duration assets to match their decades-long liabilities.
3. Massive Capex Requirements
Alphabet recently announced it plans to spend up to $185 billion on capital expenditures in 2026—roughly double its 2025 spending. While the company sits on over $120 billion in cash, it is using the bond market to “lock in” fixed-rate capital to protect against future interest rate volatility.
The Risk: The “Motorola Warning”
Financial analysts, including Michael Burry, have noted that the last time tech firms issued 100-year bonds was in 1997 (Motorola). At the time, Motorola was a dominant top-25 company, but it struggled significantly just a few years later as the tech landscape shifted.
“Financial markets have described the issuance of 100-year bonds as unusual, given the uncertainty of whether a tech company will even exist that long.” — Financial Analyst Sentiment, Feb 2026
The “Big Tech” Debt Race
Alphabet isn’t alone in this massive borrowing spree. Other “AI Hyperscalers” are also flooding the market to secure “AI ammunition”:
- Oracle: Raised $25 billion last week.
- Meta: Issued $30 billion in late 2025 (its largest ever).
- Total Sector Borrowing: Major cloud providers are expected to borrow a combined $400 billion in 2026.
