Sou Hu Cai Jing·2026-02-10 02:46Core Viewpoint - Alphabet, the parent company of Google, plans to raise $20 billion through the issuance of dollar-denominated bonds, exceeding the previous expectation of $15 billion [1] Group 1: Bond Issuance - The longest maturity bond in this issuance, maturing in 2066, has seen its pricing spread narrow from 1.2 percentage points to 0.95 percentage points above U.S. Treasuries [1] - Last week, Oracle raised $25 billion through a bond issuance, with peak orders reaching $129 billion, setting a record [1] Group 2: Capital Expenditure - Alphabet announced plans to invest up to $185 billion in capital expenditures this year, surpassing the total from the past three years [1] - The significant investment is driven by the company's focus on data centers that are crucial for its AI strategy [1] Group 3: Industry Context - According to a report from Bank of America Securities, Amazon, Alphabet, Meta, Microsoft, and Oracle issued a total of $121 billion in corporate bonds last year, with an average annual issuance of $28 billion from 2020 to 2024 [1]