New York, Feb 10, 2026, 16:04 EST — Trading after hours.
- Alphabet’s Class C shares (GOOG) dropped roughly 1.4% during Tuesday’s regular trading session.
- Alphabet returned to the debt markets to finance its AI infrastructure, unveiling a rare 100-year bond plan.
- Europe brought mixed news: EU regulators approved Google’s $32 billion Wiz acquisition, yet publishers lodged an antitrust complaint targeting AI-generated search summaries.
Alphabet Inc’s Class C shares (GOOG) dropped 1.4% to $319.74 during Tuesday’s regular trading, as investors digested new debt linked to AI investments alongside a string of regulatory news from Europe.
The bond market angle matters now because big tech’s AI buildout isn’t just a side project anymore. It’s about steel, chips, and power contracts—and you’re starting to see those funding decisions reflected in deal flow.
The regulatory aspect is crucial since several of Google’s upcoming products are tied to ongoing antitrust battles. Approval for a major acquisition could shape the long-term outlook, yet concerns over AI features continue to fuel the controversy.
On Monday, Alphabet sold $20 billion in bonds across seven tranches, Reuters reported. Analysts are bracing for a busy 2026 in corporate debt issuance. Barclays predicts U.S. corporate bond sales will hit $2.46 trillion next year. Meanwhile, Karthik Nandyal, CredCore’s co-founder, noted that earlier pricing models are being reworked as AI reshapes cash flows and heightens competition. (Reuters)
A memo from Alphabet’s lead manager, seen by Reuters, reveals the company plans to price a £5.5 billion ($7.53 billion) sterling deal, including a £1 billion century bond—debt that matures in 100 years. Piers Ronan of Truist noted this is the first century bond in tech since Motorola issued one in 1997. Jason Granet from BNY described the offering as “indicative” of the investment surge tied to a technology shift. (Reuters)
TotalEnergies has inked long-term contracts to provide solar energy to Google’s data centers in Texas. Google’s clean energy director, Will Conkling, called the deal a boost of “necessary new generation” for the local grid. (Reuters)
Europe’s regulators have given the green light to one of Alphabet’s major strategic moves. On Tuesday, the European Commission granted Google unconditional antitrust approval for its $32 billion acquisition of cybersecurity company Wiz. EU antitrust head Teresa Ribera noted that customers will continue to have “credible alternatives” in cloud infrastructure. (Reuters)
Publishers have ramped up their battle over Google’s use of content. The European Publishers Council lodged an antitrust complaint targeting Google’s AI Overviews—the AI-generated snippets displayed in Search. Chairman Christian Van Thillo called it a move to block a “dominant gatekeeper” from exploiting publishers’ work without permission or fair compensation. Google pushed back, calling the allegations inaccurate and pointed to controls available for sites. (Reuters)
Mega-cap tech closed unevenly. Amazon dropped 0.7%, Meta slid 0.4%, and Microsoft inched up just 0.1%. The Nasdaq 100 tracker QQQ dipped roughly 0.3%.
Alphabet’s Class C shares, which trade under the ticker GOOG and don’t have voting rights, dropped roughly 1.4% on the day. Its voting Class A shares, listed as GOOGL, also saw a similar decline.
Still, these forces could backfire on the stock. If interest rates climb or appetite for ultra-long bonds fades, financing massive AI projects could become more expensive. Plus, any EU action linked to AI Overviews might compel Google to alter how it displays search results or deals with publishers.
Next on the docket: final pricing for the sterling deal, covering the 100-year tranche, plus any new feedback from EU competition officials on the publishers’ filing. These two factors will probably keep risk traders on edge heading into Wednesday’s session.
