Jensen Huang · Anthropic · Nvidia · Google · Gemini · The Guardian Technology
Alphabet, whose Gemini AI system has been growing its share of the AI chatbot market
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AI is driving an expansionary moment for Alphabet.
Key facts
- Anthropic is now valued at $965bn after raising $65bn in funding, meaning it has leapfrogged OpenAI to become the world’s most valuable startup
- In its filing, Alphabet explains that half the $80bn will be dedicated to “scale AI infrastructure and global compute”, with $40bn set aside to cover “an administrative change to how it meets tax
- The ECB says that gold made up 27% of total official foreign reserves at the end of 2025, ahead of US Treasuries (22% of reserves) and the euro (15%)
- Correcting for such valuation effects by using the gold price at the end of 2023, the share of the euro (16%) remains at par with the share of gold (16%), while the share of US Treasuries continues
Summary
Good morning, and welcome to their rolling coverage of business, the financial markets and the world economy. The economics of the AI boom are back in focus today, after Google’s parent company Alphabet said it plans to raise up to $80bn in equity to, in part - fund its vast AI infrastructure investments. The move is one of the largest equity raisings ever, and includes a $10bn share sale to investsment giant Berkshire Hathaway. Alphabet, whose Gemini AI system has been growing its share of the AI chatbot market, says it will use the money to expand its “world-class AI compute infrastructure to meet its unprecedented customer demand.” AI is driving an expansionary moment for Alphabet.