Google Explores Fiber Asset Deal With Stonepeak-Backed Radiate: Report

• Stonepeak would hold a majority stake in the venture and Google would have the rest of the minority stake, as per the report. 
• Stonepeak will reportedly funnel about $1 billion in preferred equity to help fund the deal.
• The deal comes as Google had been looking at deconsolidating its fiber business.

Alphabet’s (GOOG) Google is reportedly exploring a joint venture with broadband operator Radiate, backed by Stonepeak Partners, for a fiber assets deal.

As per a report from Bloomberg that cited people familiar with the matter, the new venture would house Radiate’s fiber assets, Astound, as well as Google’s fiber optic Internet service, GFiber.

While Stonepeak would hold a majority stake in the venture, Google would have the rest of the minority stake, as per the report.

Alphabet Inc.’s Class C (GOOG) shares closed 0.85% lower on Friday.

Deal Rationale

The deal comes as Google had been looking at deconsolidating its fiber business, according to the people cited in the report. Google’s GFiber actively competes with internet service providers like Comcast (CMCSA), Verizon Communications (VZ), and AT&T (T).

Stonepeak will funnel about $1 billion in preferred equity to help fund the deal,  as per Bloomberg, adding that although the talks were in progress, and the transaction terms could change.

Radiate Holdco LLC is an American broadband and cable company. Stonepeak purchased the company in 2021 for $8.1 billion from TPG Capital and Patriot Media Management.

Google launched GFiber in 2010 and at present, it is available in about 20 states. GFiber announced a deal with software company Quext in November 2025 to roll out a new managed Wi-Fi and smart community solution for the multi-family market with 3 Gig bulk internet service, with first properties expected to go live in early 2026.

An earlier report from Reuters had noted that Google was looking at external investment for GFiber in a bid to expand its footprint to more cities in the U.S.

Ruth Porat, Alphabet's president and chief investment officer, had told Reuters at the time that the external capital would help GFiber scale its technical leadership, expand its reach, and provide better internet access to more communities.

How Did Stocktwits Users React?

On Stocktwits, retail sentiment around GOOG shares remained in the ‘bullish’ territory over the past 24 hours amid ‘high’ message volumes.

Shares of GOOG have gained nearly 70% in the past year, while shares of GOOGL (Alphabet Inc. Class A) have risen over 71% in the same time.

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