--- title: Alphabet takes its AI debt spree Down Under with a first... description: Alphabet is preparing its first-ever Australian dollar bond, an inaugural 'Kangaroo' deal worth roughly US$3.6bn (about A$5bn), arranged with ANZ, Deutsche... canonical: https://daily.dev/posts/alphabet-takes-its-ai-debt-spree-down-under-with-a-first-australian-dollar-bond-kf5vw0o9i twitter:card: summary_large_image twitter:site: @dailydotdev og:type: website og:site_name: daily.dev og:title: Alphabet takes its AI debt spree Down Under with a first Australian dollar bond | daily.dev og:description: Alphabet is preparing its first-ever Australian dollar bond, an inaugural 'Kangaroo' deal worth roughly US$3.6bn (about A$5bn), arranged with ANZ, Deutsche... og:url: https://daily.dev/posts/alphabet-takes-its-ai-debt-spree-down-under-with-a-first-australian-dollar-bond-kf5vw0o9i og:image: https://api.daily.dev/og/posts/Kf5Vw0o9i.png og:image:alt: Alphabet takes its AI debt spree Down Under with a first Australian dollar bond og:image:width: 1200 og:image:height: 630 og:locale: en --- > ## Documentation Index > Fetch the complete documentation index at: https://daily.dev/llms.txt > Use this file to discover all available pages before exploring further. # Alphabet takes its AI debt spree Down Under with a first Australian dollar bond **[The Next Web](https://daily.dev/sources/tnw)** · 4 min read · 0 upvotes · 0 comments ## Summary Alphabet is preparing its first-ever Australian dollar bond, an inaugural 'Kangaroo' deal worth roughly US$3.6bn (about A$5bn), arranged with ANZ, Deutsche Bank, RBC Capital Markets, and TD Securities across four tranches (3, 5, 10, and 20 years). The move follows a $25bn dollar bond, an $85bn equity raise, and a debut yen bond, as Alphabet funds a raised 2026 capex guidance of $195-205bn for AI infrastructure. The company posted its first negative quarterly free cash flow (-$5.9bn) as a public company, part of a broader Big Tech trend where AI debt has swelled past $350bn industry-wide amid $730bn+ in expected 2026 AI capex spending. ## Full article daily.dev links to this article rather than hosting it. Read it at the original source: ## Questions this post answers ### Why is Alphabet issuing its first Australian dollar bond? Alphabet is issuing an inaugural 'Kangaroo' bond of roughly US$3.6bn (about A$5bn) across four tranches (3, 5, 10, and 20 years) to help fund its AI build-out. The move follows a US$25bn dollar bond, an ~$85bn equity raise, and a debut yen bond, as the company diversifies funding sources after raising 2026 capex guidance by $15bn to $195-205bn. _Anyone tracking how AI infrastructure spending is financed can follow Big Tech's bond activity on daily.dev._ ### How much negative free cash flow did Alphabet report and why? Alphabet posted its first negative quarterly free cash flow as a public company in the second quarter, around negative $5.9bn, driven by heavy spending on chips, data centers, and power that outpaced its cash generation. This shift coincides with the company raising billions through bonds and equity to sustain its AI capital expenditure plans. _Developers watching AI infrastructure economics can keep up with these shifts through daily.dev._ ### How much AI-related debt has Big Tech raised overall? Big Tech's AI-related debt has swelled past $350bn, with companies borrowing across Europe, Asia, and now Australia to fund data center and chip spending. The broader tech industry is expected to spend north of $730bn this year, much of it on artificial intelligence infrastructure. _Those following the scale of AI infrastructure investment can track these trends on daily.dev._ ## Similar posts on daily.dev - [Alphabet raises A$5.5bn in Australia, more than doubling a record Apple set in 2015](https://daily.dev/posts/alphabet-raises-a-5-5bn-in-australia-more-than-doubling-a-record-apple-set-in-2015-agmly3b2v) · The Next Web · 0 upvotes · 0 comments - [Three months after raising $30bn, Alphabet taps the euro market again](https://daily.dev/posts/three-months-after-raising-30bn-alphabet-taps-the-euro-market-again-mibhnzdqu) · The Next Web · 0 upvotes · 0 comments - [Alphabet plans first yen bond sale to fund AI build](https://daily.dev/posts/alphabet-plans-first-yen-bond-sale-to-fund-ai-build-nakod03dw) · The Next Web · 1 upvotes · 0 comments - [Fresh off bond sale, Amazon borrows $17.5B from banks as AI spending continues](https://daily.dev/posts/fresh-off-bond-sale-amazon-borrows-17-5b-from-banks-as-ai-spending-continues-1ns9sgfvt) · TechCrunch · 0 upvotes · 0 comments --- Tags: [#tech-news](https://daily.dev/tags/tech-news), [#cloud](https://daily.dev/tags/cloud), [#ai-infrastructure](https://daily.dev/tags/ai-infrastructure) [View this post on daily.dev](https://daily.dev/posts/alphabet-takes-its-ai-debt-spree-down-under-with-a-first-australian-dollar-bond-kf5vw0o9i) ```json {"@context":"https://schema.org","@graph":[{"@type":"Organization","@id":"https://daily.dev/#organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180},"sameAs":["https://twitter.com/dailydotdev","https://github.com/dailydotdev","https://www.linkedin.com/company/daily-dev-ltd"]},{"@type":"WebSite","@id":"https://daily.dev/#website","url":"https://daily.dev","name":"daily.dev","publisher":{"@id":"https://daily.dev/#organization"},"potentialAction":{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https://daily.dev/search?q={search_term_string}"},"query-input":"required name=search_term_string"}}]} {"@context":"https://schema.org","@type":"TechArticle","headline":"Alphabet takes its AI debt spree Down Under with a first Australian dollar bond","url":"https://daily.dev/posts/alphabet-takes-its-ai-debt-spree-down-under-with-a-first-australian-dollar-bond-kf5vw0o9i","mainEntityOfPage":{"@type":"WebPage","@id":"https://daily.dev/posts/alphabet-takes-its-ai-debt-spree-down-under-with-a-first-australian-dollar-bond-kf5vw0o9i"},"datePublished":"2026-08-17T15:50:28.717Z","dateModified":"2026-09-13T19:57:38.764Z","description":"Alphabet is preparing its first-ever Australian dollar bond, an inaugural 'Kangaroo' deal worth roughly US$3.6bn (about A$5bn), arranged with ANZ, Deutsche...","image":"https://media.daily.dev/image/upload/f_auto,q_auto/v1/posts/23acdf05c25fe1f2c2dfd56e8460d3fa?_a=AQAEuop","thumbnailUrl":"https://media.daily.dev/image/upload/f_auto,q_auto/v1/posts/23acdf05c25fe1f2c2dfd56e8460d3fa?_a=AQAEuop","isAccessibleForFree":true,"articleSection":"The Next Web","inLanguage":"en","publisher":{"@type":"Organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180}},"author":{"@type":"Organization","name":"The Next Web","logo":"https://media.daily.dev/image/upload/t_logo,f_auto/v1/logos/tnw","url":"https://daily.dev/sources/tnw"},"commentCount":0,"discussionUrl":"https://daily.dev/posts/alphabet-takes-its-ai-debt-spree-down-under-with-a-first-australian-dollar-bond-kf5vw0o9i","interactionStatistic":[{"@type":"InteractionCounter","interactionType":{"@type":"LikeAction"},"userInteractionCount":0},{"@type":"InteractionCounter","interactionType":{"@type":"CommentAction"},"userInteractionCount":0}],"keywords":"tech-news,cloud,ai-infrastructure","timeRequired":"PT4M"} {"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https://daily.dev"},{"@type":"ListItem","position":2,"name":"The Next Web","item":"https://daily.dev/sources/tnw"},{"@type":"ListItem","position":3,"name":"Alphabet takes its AI debt spree Down Under with a first Australian dollar bond"}]} {"@context":"https://schema.org","@type":"FAQPage","@id":"https://daily.dev/posts/alphabet-takes-its-ai-debt-spree-down-under-with-a-first-australian-dollar-bond-kf5vw0o9i#faq","mainEntity":[{"@type":"Question","name":"Why is Alphabet issuing its first Australian dollar bond?","acceptedAnswer":{"@type":"Answer","text":"Alphabet is issuing an inaugural 'Kangaroo' bond of roughly US$3.6bn (about A$5bn) across four tranches (3, 5, 10, and 20 years) to help fund its AI build-out. The move follows a US$25bn dollar bond, an ~$85bn equity raise, and a debut yen bond, as the company diversifies funding sources after raising 2026 capex guidance by $15bn to $195-205bn. Anyone tracking how AI infrastructure spending is financed can follow Big Tech's bond activity on daily.dev."}},{"@type":"Question","name":"How much negative free cash flow did Alphabet report and why?","acceptedAnswer":{"@type":"Answer","text":"Alphabet posted its first negative quarterly free cash flow as a public company in the second quarter, around negative $5.9bn, driven by heavy spending on chips, data centers, and power that outpaced its cash generation. This shift coincides with the company raising billions through bonds and equity to sustain its AI capital expenditure plans. Developers watching AI infrastructure economics can keep up with these shifts through daily.dev."}},{"@type":"Question","name":"How much AI-related debt has Big Tech raised overall?","acceptedAnswer":{"@type":"Answer","text":"Big Tech's AI-related debt has swelled past $350bn, with companies borrowing across Europe, Asia, and now Australia to fund data center and chip spending. The broader tech industry is expected to spend north of $730bn this year, much of it on artificial intelligence infrastructure. Those following the scale of AI infrastructure investment can track these trends on daily.dev."}}]} ```