Alphabet announced its first-ever yen-denominated bond issuance on May 11, 2026. The offering is expected to raise several hundred billion yen. This total translates to several billion U.S. dollars.
The move diversifies funding sources to support significant investments in artificial intelligence infrastructure. Proceeds will help finance projected 2026 capital expenditures between $180 billion and $190 billion.
Alphabet will use the funds for data centers, servers, and networking equipment to meet growing AI demands. Bank of America Securities, Mizuho Securities, and Morgan Stanley are managing the issuance.