Alphabet, Google’s parent company, announced plans to raise up to US$80 billion through a share sale to finance the expansion of its AI infrastructure.
The fundraising will include a US$10 billion private investment from Berkshire Hathaway, in addition to public offerings and a gradual stock sale program.
Alphabet said the proceeds will be used primarily to expand its global AI infrastructure and meet what it described as “unprecedented” demand from enterprise customers and consumers.