Three months after a $30bn multi-currency raise, Google’s parent is back. The euro tranches expand one of the most active corporate borrowing programmes of the AI cycle.

Three months after raising more than $30bn in a multi-currency global debt issue, Alphabet is back at the bond market. Bloomberg reported on Tuesday that Google’s parent has launched a six-tranche euro-denominated debt offering, the latest expansion of what has become one of the most active corporate borrowing programmes of the AI cycle.

The euro tranches add to a 2026 debt-raising effort that already spans dollars, sterling, Swiss francs, and a 100-year sterling bond, the first century-debt issuance by a tech company since Motorola in 1997.

Alphabet’s February raise was already remarkable. CNBC reported the company boosted that issue past $30bn across maturities from short-dated to a century, with strong demand at every tranche.…