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Alphabet said Monday it plans to sell $80 billion in stock, including through a $10 billion investment by Berkshire Hathaway
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The Google parent company said that the capital will "fund investments in its world-class AI compute infrastructure to meet its unprecedented customer demand.
Key facts
- Alphabet said Monday it plans to sell $80 billion in stock, including through a $10 billion investment by Berkshire Hathaway
- The company in April revised its capital expenditure forecast this year to between $180 billion and $190 billion, up from its previous estimate of $175 billion to $185 billion
- In addition to the $10 billion from Berkshire, Alphabet plans $30 billion in underwritten offerings, including $15 billion in "depositary shares representing mandatory convertible preferred stock
- Alphabet held a global bond issuance in excess of $30 billion in February, and went to the European market to raise roughly $11 billion in sterling and Swiss francs
Summary
Alphabet said Monday it plans to sell $80 billion in stock, including through a $10 billion investment by Berkshire Hathaway. "The company is experiencing strong demand for its AI solutions and services from enterprises and consumers, at levels that are exceeding the company's available supply," Alphabet said. Google is significantly ramping up spending on artificial intelligence as it races to keep up with tech's other hyperscalers. "Be it power, land, supply chain constraints, how do you ramp up to meet this extraordinary demand for this moment?