tech
Alphabet to sell $80bn in stock to fund AI spending spree
Landmark fundraising plans include $10bn private placement to Berkshire Hathaway
TL;DR
- Alphabet plans to sell about $80 billion of stock in the next year.
- This funding will support increased spending on artificial intelligence and other long-term priorities.
- Capital expenditures are expected to rise by 50% in 2024 to $45-50 billion for AI and cloud infrastructure.
- Operating expenses are projected to grow by 20% to recruit and retain AI talent.
- Analysts have divided opinions on the long-term sustainability and implications of Alphabet's increased spending.