TLDR Tech / AI
Alphabet plans to raise $80 billion from stock sales to fund AI buildout
Alphabet plans to sell $80 billion in stock to fund investments into AI compute infrastructure due to unprecedented customer demand. The raise includes $10 billion from Berkshire Hathaway, $30 billion in an underwritten offering, and $40 billion from an at-the-market offering program for Class A and Class C shares expected to begin in the third quarter. Goldman Sachs, JPMorgan Chase, and Morgan Stanley are acting as joint book-running managers for the underwritten offering.
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