Is Alphabet (GOOGL) Christopher Rokos' Top Pick?

While NVIDIA Corporation (NASDAQ:NVDA) remains the billionaire’s largest position, Alphabet Inc. (NASDAQ:GOOGL) ranks 2^nd on the list of Christopher Rokos’ top holdings with a 4.16% portfolio share ($969.18 million). We recently published a list of youngest hedge fund billionaires and their top stock picks.

As reported by Reuters on February 9, 2026, Alphabet Inc. (NASDAQ:GOOGL) sold $20 billion in a seven-part senior unsecured offering, according to IFR data, tapping the U.S. high-grade bond market. This highlights how AI-driven capital intensity is changing balance-sheet strategy.

According to the Financial Times, the deal comes as hyperscalers speed up borrowing to finance processors and data centers. Alphabet is also considering a debut sterling bond that might have a unique 100-year maturity. Given that the five largest hyperscalers issued $121 billion in bonds last year and are expected to spend about $500 billion on AI infrastructure in 2026, the issuance is consistent with a larger increase in AI-related debt.

Following Alphabet Inc. (NASDAQ:GOOGL)’s guidance announcement on February 4, 2026, capital expenditures could nearly double from $91.45 billion in 2025 to $175.00–$185.00 billion this year as it works through compute constraints while scaling Gemini and cloud workloads. The bond sale supports Alphabet’s shift into a capital-intensive hyperscaler phase, which trades short-term free cash flow pressure for long-term AI-led growth, according to investors.

Alphabet Inc. (NASDAQ:GOOGL) operates Google Services, Google Cloud, and Other Bets, which generate revenue from digital advertising, cloud infrastructure, AI-powered enterprise services, and emerging technologies in global consumer and business markets.

Note: NVDA is Rokos Capital Management’s top holding, accounting for 4.22% share of the firm’s total portfolio, equivalent to $981.42 million.

While we acknowledge the potential of GOOGL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None.