Alphabet seeks $80 billion for AI buildout, with $10 billion from Berkshire
What's new: The Google parent plans $30 billion in underwritten sales and a $40 billion at-the-market program starting in the third quarter.
Alphabet plans to raise $80 billion in stock sales to expand its artificial intelligence infrastructure, including a $10 billion private placement with Berkshire Hathaway. The Google parent said the money will help meet demand for AI tools, cloud services and its tensor processing units, which compete with Nvidia's chips. Alphabet will raise $30 billion through underwritten offerings split between depositary shares tied to mandatory convertible preferred stock and Class A and Class C shares. It also expects to start a $40 billion at-the-market share sale program in the third quarter. The company had already lifted its 2026 capital spending outlook to $180 billion to $190 billion. Alphabet shares fell about 2% in extended trading after the plan was disclosed.