Alphabet announces $80B raise amid nearly $700B AI plans
Tech giants are about to pour nearly $700 billion into AI by 2026, almost doubling what they spent last year.
Alphabet (Google's parent) just announced an $80 billion raise for its own AI push, with Berkshire Hathaway chipping in $10 billion, making this one of the biggest equity raises ever.
Amazon, Microsoft, and Meta are also going all in on new data centers and custom chips to power their next-generation AI models.
AI openings 275,000, tech layoffs 92,000
But while the money flows into AI, jobs are being cut across the industry: more than 92,000 tech workers have been laid off since January.
Amazon alone let go of 16,000 people; Meta and Oracle made big cuts too.
In March, more than 15,000 layoffs were directly linked to companies' growing focus on AI projects.
Yet even with so many job cuts, there are still around 275,000 open roles in AI, highlighting a real skills gap as tech shifts gears.