Google Plans to Raise $80 Billion, Berkshire Hathaway to Invest $10 Billion

Odaily Planet Daily News: Google's parent company Alphabet (GOOG.O) is raising $80 billion through an equity issuance, including an investment agreement with Berkshire Hathaway, to fund its ambitious artificial intelligence spending plans. In the announcement, Alphabet disclosed that this fundraising effort includes a $30 billion underwritten public offering and a $40 billion "at-the-market" (ATM) offering. As part of this fundraising plan, Berkshire Hathaway will subscribe to $10 billion worth of shares through a private placement. Alphabet will issue $5 billion of Class A common stock to Berkshire at $351.81 per share and another $5 billion of Class C common stock at $348.20 per share. The company stated in the announcement: "AI demand has exceeded the company's current supply capacity. By expanding the scale of investment, the company aims to expand its infrastructure to provide strong support for seizing huge future growth opportunities."