Alphabet Wraps €6 Billion Bond Sale as Google's Spending Spree Spans Malaysia, Wyoming and a $548 Million Qualcomm Stake
Published on 11/08/2026 at 18:11 | Editorial boerse-global.de
Alphabet closed a seven-tranche euro bond sale worth €6 billion on Thursday, capping a week in which the company also unveiled a $15 billion Malaysian investment plan, confirmed a $17 billion Wyoming data center and disclosed a near-$548 million stake in Qualcomm.
The senior notes, detailed in a regulatory filing, mature between 2028 and 2045. Reuters reported at launch on Nov. 2 that demand topped €17 billion, meaning orders exceeded the size of the final deal.
Bernstein Research analyst Mark Shmulik kept a "Market Perform" rating on the stock with a $325 price target, reaffirmed on Friday.
Malaysia and Wyoming anchor the buildout
Google said Wednesday it will invest US$15 billion in Malaysia across 2027 and 2028, funding data center campuses, additional clean energy capacity and water projects. The package includes programs to upskill roughly 800,000 people in the country through 2031. On Nov. 2 the company had already committed US$160 million to shared water infrastructure in Negeri Sembilan, intended to serve both local supply and the planned data center operations.
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Stateside, Google announced a $17 billion investment in its first data center in Wyoming, located in Laramie County, according to Reuters. The company is working with Tallgrass Energy, Black Hills Energy, American Electric Power and Related Digital on the project. Reuters also reported Friday that Google bought the southeastern Wyoming land from Crusoe — the purchase is complete, while the data center investment remains a forward-looking commitment.
Financing is taking shape on the energy side too. Bloomberg reported that Alphabet is slated to receive a planned $1.5 billion energy-prepayment bond, to be issued by the California Community Choice Financing Authority with Goldman Sachs arranging the placement.
Qualcomm position surfaces in filing
A regulatory disclosure reported by Reuters on Friday showed Alphabet holding a Qualcomm stake valued at almost $548 million as of the third quarter. The figure reflects the position's value at the end of that reporting period, not a purchase price.
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Capex guidance holds after mixed quarter
The spending plans sit alongside third-quarter 2026 results reported about two weeks ago: revenue of $127.6 billion, up 25% year over year. Google Cloud revenue climbed 103% to $30.7 billion, while search and other advertising revenue rose 12% to $63.3 billion. Alphabet kept full-year 2026 capital expenditure guidance at $195 billion to $205 billion and signaled a significant increase in 2027.
AP reported that the results fell short of Wall Street expectations.
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