Goldman Sachs · Wall Street · Google · JPMorgan · CNBC Technology
Alphabet's $80 billion stock sale departs Wall Street in 'record territory,' confirms Goldman's Gutman
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◎ Multiple-sources
Alphabet 's plan to sell $80 billion in shares to fund its artificial intelligence commitments leaves markets in "unprecedented territory", co-chief executive officer at Goldman Sachs International Anthony Gutman told CNBC in an exclusive interview on Wednesday.
Key facts
- The Google parent company said that its equity offerings will include an allocation of $10 billion to Greg Abel's Berkshire Hathaway to "fund investments in its world-class AI compute infrastructure
- Alphabet 's plan to sell $80 billion in shares to fund its artificial intelligence commitments leaves markets in "unprecedented territory", co-chief executive officer at Goldman Sachs International
- SpaceX's hotly-anticipated flotation, expected on June 12, could mark the largest IPO in history
- Goldman Sachs, JPMorgan Chase and Morgan Stanley are acting as joint book-running managers for the underwritten offerings
Summary
The Google parent company said that its equity offerings will include an allocation of $10 billion to Greg Abel's Berkshire Hathaway to "fund investments in its world-class AI compute infrastructure to meet its unprecedented customer demand. Goldman Sachs, JPMorgan Chase and Morgan Stanley are acting as joint book-running managers for the underwritten offerings. "Let's start by saying this is unprecedented territory, so they all enter it with a degree of humility and caution, and the right balance of focus," Gutman told CNBC's Carolin Roth on Europe Early Edition Wednesday morning. Gutman said there is "a lot of demand out there" for significant equity issuance and that, as a percentage of the total equity market capitalization, it looks "manageable".