Google has its fingers in many pots. It’s a search engine, it has its own computing and mobile operating system, it has email, it has productivity software, it has AI, and so on. So, when Google launched GFiber back in 2010 to try and dip its toes in the ISP market, it wasn’t that surprising. But now, it looks like Google wants to sell its fiber unit and hold a minority stake instead.
Google sells part of its fiber business
In a post on its GFiber website, Google announced its intention to sell part of its fiber business to Stonepeak. It will merge with Astound Broadband to form a new independent internet provider. Investment firm Stonepeak will hold a majority stake in the combined company. Google, on the other hand, will become a minority shareholder.
The announcement also revealed that GFiber CEO Dinni Jain will lead the new venture, and the existing GFiber executive team will stay on. Google says the deal is expected to close in the fourth quarter of 2026, pending regulatory approval. However, the financial terms were not disclosed.
GFiber has been sitting inside Alphabet’s “Other Bets” segment for years. For those unfamiliar, that’s the division where Alphabet parks projects that aren’t part of its core business, like Waymo. The whole segment generated $1.54 billion in revenue in 2025. Sounds like a lot of money, right? However, it only accounted for less than 0.5% of Alphabet’s total sales.
Moving GFiber out from under that umbrella has been one of the company’s goals for a while. Back in 2024, Reuters reported that Alphabet was already shopping around for outside investors. T-Mobile reportedly showed interest, but Stonepeak ultimately won out.
What this deal actually means
The good news is that for now, nothing should change for existing customers. GFiber’s CEO is still in charge along with the existing executive team. This means that if you want an internet provider but do not want to deal with long-term contracts, GFiber is still one of your best bets.
Also, not having to deal with extra costs like equipment rental is a nice bonus. Plus, GFiber also offers symmetrical speeds. This is very different from other ISPs, which typically focus more on download speeds and less on uploads. We’re not sure if in the future this could change, especially with Google holding a minority stake. But we’ll have to wait and see. For now, as far as consumers are concerned, it’s still business as usual.
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