Alphabet to raise $80 billion in equity
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By Harshita Mary Varghese and Jonathan Stempel June 1 (Reuters) - Alphabet is looking to raise $80 billion in equity offerings, including an investment from Berkshire Hathaway, the Google parent said on Monday,
Alphabet 's plan to sell $80 billion in shares to fund its artificial intelligence commitments leaves markets in "unprecedented territory", co-chief executive officer at Goldman Sachs International Anthony Gutman told CNBC in an exclusive interview on Wednesday.
Alphabet's planned $80 billion stock sale puts a new price tag on the AI race as Google's cash machine taps Wall Street to keep up.
Broader developments in the field of artificial intelligence (AI) gave the semiconductor and data center specialist a boost.
Berkshire Hathaway is set to buy $10 billion of discounted Alphabet stock, and recently announced an $8.5 billion acquisition.
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Google parent Alphabet Inc. upsized its equity raise to $84.75 billion from the $80 billion it announced just two days earlier in a bid to help fund growing artificial intelligence spending plans.
Alphabet is funding a larger AI buildout, leaving shareholders to weigh whether Gemini usage and Google Cloud demand can translate into stronger cash-flow returns.