Alphabet raises $84.75B equity offering to fund AI push
Business
Alphabet (Google's parent company) has raised its equity offering to a massive $84.75 billion, up from the earlier $80 billion. This cash is all about fueling its big push into artificial intelligence.
The deal includes a $40 billion at-the-market program, $10 billion from Berkshire Hathaway, and another $34.75 billion through shares.
Deal could surpass Petrobras $70B record
This move might break the record for the largest equity deal ever, topping Petrobras's 2010 milestone of $70 billion. Investor demand was strong, with demand for multiple times the available shares.
Alphabet plans to use these funds to upgrade its AI infrastructure, especially those tensor processing units (TPUs), which are key for building powerful data centers and taking on rivals like NVIDIA.