New York, February 9, 2026, 09:39 EST — Regular session
- Alphabet is down roughly 2.5% shortly after the U.S. open.
- A report highlighted a bond sale of around $15 billion, keeping Big Tech’s financing requirements in the spotlight.
- Bonds are under the microscope as traders brace for upcoming U.S. jobs and inflation reports later this week.
Alphabet Inc slipped 2.5% to $322.86 in early Monday trading, lagging behind as caution lingered over megacap tech following a volatile period for the sector.
Alphabet is aiming to pull in roughly $15 billion through a U.S. dollar bond offering, according to Bloomberg News, as tech giants move to secure fresh capital for AI-driven infrastructure projects. The regulatory filing indicates the Google parent is splitting the bond sale into up to seven segments. The longest, maturing in 2066, is being floated at an initial spread of about 1.2 percentage points above Treasuries—a standard mark for gauging funding costs.
TotalEnergies, in a separate move, announced it has inked two long-term agreements to deliver solar power for Google’s Texas data centres, aiming for 1 gigawatt of capacity over a 15-year stretch. The two projects, both slated to begin construction in the second quarter, will support Google’s local operations. “Adds necessary new generation to the local system,” said Will Conkling, Google’s clean-energy director. Reuters
As questions swirl over how quickly AI investments might deliver, investors are shifting money into less expensive sectors and stepping back from high-flying tech. “The selloff in the names that carried markets higher may have paused,” said Tim Murray, capital markets strategy at T. Rowe Price. Over at Macquarie Group, strategist Thierry Wizman flagged that investors face “strong doubts and questions” on whether the latest spending spree will pay off. Reuters
Software and services names have felt the sting of that caution, with shares dropping amid anxiety that aggressive new AI offerings might upend established revenue streams. Reuters cited a legal-focused update to Anthropic’s Claude model as the spark for the latest wave of selling. Options markets, meanwhile, are still bracing for more volatile moves.
Stocks on Wall Street slipped out of the gate Monday. The Nasdaq started down 0.34%, a move that continued to weigh on growth names sensitive to rates and shifting risk sentiment.
Alphabet investors will be watching closely to see what borrowing terms the market ends up setting. Another key question: does the company’s data center expansion keep locking it into long-term power and equipment deals?
Still, bond deals and electricity agreements alone don’t give a straight answer on margins or short-term earnings. Should investors keep shunning packed tech names, Alphabet could slip with the sector—even if the business nails execution—particularly if higher yields keep denting the value of future profits.
Eyes now shift to the U.S. January jobs print coming Wednesday, then the consumer price index on Friday—both critical for the Fed’s next moves. A hotter-than-expected inflation number? That could push yields higher and squeeze big tech names like Alphabet.
