Axios
US · 5 hrs ago
✦ 78✓ Factual
Alphabet seeks $80 billion to fund AI buildout
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Alphabet announced plans to raise up to $80 billion in equity funding to support its AI infrastructure expansion, including a $10 billion investment from Berkshire Hathaway, as the company seeks to maintain competitiveness in the AI race.
Alphabet seeks $80 billion to fund AI buildout
Alphabet said Monday it plans to raise up to $80 billion in equity to help fund its AI ambitions, which includes a $10 billion investment from Berkshire Hathaway via a private deal.
Why it matters: One of the world's biggest companies, which has had historically high cash flow, is seeking more cash to keep up in the AI race.
Driving the news: Alphabet said the proceeds will support "capital expenditures to scale AI infrastructure and global compute" amid "unprecedented customer demand." The f
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