Alphabet Spins Out GFiber by Merging It With Astound Broadband Under Infrastructure Investor Stonepeak

Alphabet is effectively spinning out GFiber, its formerly Google-owned fiber internet business, by merging it with Astound Broadband in a deal that will make infrastructure investor Stonepeak the majority shareholder while Alphabet retains a significant minority stake. The combined company, which will be led by GFiber's existing executive team, pairs GFiber's high-growth metropolitan fiber networks with Astound's established national infrastructure to create what the companies are calling a leading independent broadband provider. The deal, expected to close in Q4 2026 pending regulatory approval, gives GFiber the external capital and operational independence it has long sought, as GFiber is currently tucked into Alphabet's “Other Bets” segment, which recorded a $16.8 billion operating loss in 2025.