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business / news / / CNBC

Alphabet said Monday it plans to sell $80 billion in stock, including through a $10 billion investment by Berkshire Hathaway.

Alphabet plans to sell $80 billion in stock, with $10 billion from Berkshire Hathaway.

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Alphabet said Monday it plans to sell $80 billion in stock, including through a $10 billion investment by Berkshire Hathaway. The Google parent company said the capital will "fund investments in its world-class AI compute infrastructure to meet its unprecedented customer demand." "The company is experiencing strong demand for its AI solutions and services from enterprises and consumers, at levels that are exceeding the company's available supply," Alphabet said in the filing. "By scaling its investments, the company seeks to expand its foundational infrastructure to support the significant growth opportunity ahead." The announced raise comes as the company spends significantly more this year on AI-related expenses. The company in April revised its capital expenditure forecast this year to between $180 billion and $190 billion, up from its previous estimate of $175 billion to $185 billion.
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