February 14, 2026 
Alphabet (Google’s parent company) recently made headlines by issuing a rare 100-year bond, sometimes called a “century bond,” as part of a large global debt offering. The company is raising billions of dollars to help finance its rapidly expanding investment in artificial intelligence, including new data centers, advanced chips, and cloud infrastructure. While corporations often issue bonds that mature in 10, 20, or 30 years, a 100-year maturity is highly unusual, especially for a technology company.
The century bond was reportedly met with strong investor demand, suggesting confidence in Alphabet’s long-term financial strength and future cash flows. The move highlights just how significant and long-term the AI investment race has become for major technology companies.
Discussion Questions
- Why might Alphabet choose to issue long-term bonds instead of issuing additional stock to raise funds for AI investments?
- How does issuing a 100-year bond affect Alphabet’s balance sheet and financial risk compared to issuing a 10-year bond?
- If interest rates decline significantly in the future, how might that affect both Alphabet and the investors who purchased the bonds?
