TechFlow News, June 2. Alphabet (GOOG.O), Google’s parent company, is raising $80 billion through an equity offering—including an investment agreement with Berkshire Hathaway—to fund its ambitious artificial intelligence (AI) spending plans. In its announcement, Alphabet disclosed that the financing includes a $30 billion underwritten public offering and a $40 billion “at-the-market” (ATM) offering. As part of this financing plan, Berkshire Hathaway will purchase $10 billion worth of shares via a private placement: Alphabet will issue $5 billion worth of Class A common stock to Berkshire at $351.81 per share and an additional $5 billion worth of Class C common stock at $348.20 per share. The company stated in its release: “Demand for AI has already exceeded our current supply capacity. By scaling up our investments, we aim to expand our infrastructure to robustly support future growth opportunities.” (Jinshi)
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