Alphabet Eyes 100-Year Bond: Invest in Google for a Century?

Alphabet, the parent company of Google, is reportedly preparing to launch a 100-year bond, marking a significant and uncommon move in the financial markets.

This extraordinary bond offering is intended to provide substantial funding for the company’s ambitious push into artificial intelligence (AI), supporting one of the key players in the so-called Magnificent 7 group of leading tech stocks.

The announcement follows a dip in Alphabet’s share price last week, despite the firm posting strong revenue and earnings increases for the fourth quarter of 2025. The decline was largely attributed to the company’s upward revision of its capital expenditure forecasts for the year, now projected to range between $175 billion and $185 billion, a notable jump from the $91.4 billion spent in the prior fiscal year.

Issuing a 100-year bond enables an organization, whether corporate or governmental, to distribute its borrowing obligations and interest repayments across an extended timeframe, easing short-term financial pressures.

From an investor’s perspective, these long-term instruments deliver a reliable and steady income flow over many decades. Institutions such as pension funds and insurance providers particularly value them for liability matching strategies, which help align their long-term payout obligations with corresponding revenue streams.

Nevertheless, potential pitfalls exist, including fluctuations in interest rates that could erode returns, as well as the inherent risk of corporate insolvency. These uncertainties explain why 100-year bonds remain an infrequent choice in the investment landscape.

If executed, an Alphabet 100-year bond would represent the first of its kind from a major tech firm since the dot-com boom of the 1990s, as noted by Bloomberg.

During that era, companies like IBM and Motorola ventured into the 100-year bond market. More recently, entities such as the University of Oxford, Elf, and the Wellcome Trust have successfully issued similar ultra-long-term debt securities.

Is Betting on Google for the Next Century a Wise Move?

Apart from interest rate volatility, the primary concern with century-long bonds revolves around the issuer’s endurance and viability over such a prolonged horizon.

Google currently holds a commanding position in the technology sector, yet apprehensions linger regarding the elevated valuations of AI-focused stocks. Moreover, the tech industry is notoriously volatile, with even dominant players potentially fading from relevance well before a century elapses.

Liz Malik, director at R3 Wealth, offered her insights: “Alphabet is positioning itself alongside enduring governments and institutions that have weathered centuries. Can a technology company truly belong in that elite group? If any tech giant could convince the market of its century-long stability, it’s Alphabet.”

While specific terms of the proposed bond remain under wraps, Lale Akoner, global market analyst at eToro, views a tech behemoth pursuing such a long-dated issuance as a strong signal of evolving investor perceptions toward major hyperscalers.

Akoner elaborated: “These companies are gradually shedding their image as cyclical technology plays and are instead being regarded as enduring infrastructure providers.”

Traditionally, century bonds have been the domain of governments or highly regulated utilities boasting stable, predictable cash flows. However, Akoner points out that this prospective transaction demonstrates investors’ current appetite for assuming extended-duration risks linked to AI-driven expansions.

She further noted: “This move also signals a pivot in how tech firms finance their growth—from relying solely on massive cash reserves to incorporating debt financing as AI expenditures intensify.”

The prospective issuance highlights persistent demand from pension funds and insurance companies for ultra-long sterling-denominated assets, according to Akoner. “Such demand helps stabilize the longer end of the gilt yield curve amid abundant supply, though broader macroeconomic factors and political events will ultimately hold greater sway. In credit markets, it reaffirms that top-tier issuers can still place very long-term debt effectively, even as rising issuance from Big Tech might eventually widen spreads.

The UK sterling market stands out as a prime venue for this. It is among the select few where 50- to 100-year bonds consistently attract buyers, fueled by inherent demand from pension schemes and insurers. Opting for sterling issuance allows Alphabet to broaden its funding sources while transferring some of the profound long-term uncertainties surrounding technology and AI outcomes to investors prepared to embrace that extended duration risk.”