Google · Elizabeth Warren · TechCrunch AI
Alphabet aims to raise $80 billion to pay for AI buildout
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Google parent company Alphabet said Monday that it plans to raise $80 billion to help pay for the massive AI infrastructure buildout it has planned.
Key facts
- At Google the reporter/O last month, CEO Sundar Pichai said that the company expects to spend between $180 billion and $190 billion on capex before the year is out
- Part of the plan involves selling $10 billion in stock to Berkshire Hathaway, the massive global holding company formerly led by Warren Buffett
- Google parent company Alphabet said Monday that it plans to raise $80 billion to help pay for the massive AI infrastructure buildout it has planned
- The company added that the stock plan represented a way to “fund its investments in a balanced way while retaining a healthy balance sheet
Summary
Part of the plan involves selling $10 billion in stock to Berkshire Hathaway, the massive global holding company formerly led by Warren Buffett. “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 in its statement. The company added that the stock plan represented a way to “fund its investments in a balanced way while retaining a healthy balance sheet.” Like other tech giants, Google has announced plans for a massive investment in compute this year, the likes of which will be used to support a flurry of new AI services.