tech
Alphabet Plans to Raise $80B to Pay for AI Buildout
"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 its statement.
TL;DR
- Alphabet plans to raise $80 billion by selling stock.
- The funds will be used to scale AI infrastructure and global compute.
- Alphabet is experiencing strong demand for its AI solutions and services.
- The company will sell $10 billion in stock to Berkshire Hathaway.
- Google CEO Sundar Pichai expects the company to spend $180 billion to $190 billion on capex this year.
- Tech giants are expected to spend up to $700 billion on AI capex this year.