Google's parent company Alphabet is planning to sell some €3 billion ($3.45bn) in bonds to help fund its AI expansion plans.

As reported by Bloomberg, the company will hold a multi-tranche sale in Europe, the second this year.

Google is marketing six benchmark tranches ranging from three to 39 years, according to an anonymous source, which are expected to total at least €3bn.

The funding will then be used to support Google's continued AI and cloud infrastructure expansion efforts.

Earlier this year, Google held another multi-tranche offering in the European market, which raised around €6.75bn ($7.77bn).

According to Bloomberg, Alphabet is currently rated Aa2/AA+. Goldman Sachs, HSBC, and JPMorgan are joint global coordinators and joint bookrunners. Other bookrunners include BNP Paribas, Crédit Agricole CIB, and Deutsche Bank.

During Google's recent earnings call, the company revealed that it was increasing its estimated capex spend for 2025 to between $91-93bn. This is the second time it has been increased, with the start-year prediction falling at around $75bn, before growing to $85bn during the second quarter. This quarter alone, Google spent $24bn, the majority of which went on technical infrastructure, including servers, data centers, and networking equipment.