Three of the largest AI spenders hit the bond market on the same day, with at least $36.7 billion in deals reported but only $16.7 billion priced. Alphabet sold €6 billion (about $6.7 billion) with coupons from 3.700% to 5.250%, Oracle priced $10 billion of bonds with coupons from 7.000% to 8.650%, and Meta had only begun sounding out investors on a deal reportedly at least $20 billion. Oracle pays a spread of 240 to 335 basis points over Treasuries, and S&P rates Oracle BBB-, one notch above junk, while Alphabet is rated AA+. Oracle's free cash flow stands at negative $5.396 billion, Meta's third-quarter free cash flow was negative $2.12 billion, and S&P revised the outlook on Meta's AA- rating to negative on October 30.
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Related tickers and likely impact
GOOGL
▼ Likely negativeAlphabet Inc. (Class A)
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $3.5T |
| Close on 11/02/2026 | 278.99 |
| Change that session | -0.30% |
META
• NeutralMeta Platforms
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $1.6T |
| Close on 11/02/2026 | 606.73 |
| Change that session | -1.34% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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