Alphabet plans to raise $80 billion through equity offerings as it increases spending on AI infrastructure and global compute capacity.
The company plans to use the funding for general corporate purposes, including capital expenditures to scale AI infrastructure and compute. Part of the proceeds from the market offering will also support an administrative change related to tax obligations from employee equity awards.
The plan includes $30 billion in underwritten public offerings. That amount is split between $15 billion in depositary shares representing mandatory convertible preferred stock and $15 billion in Class A and Class C common stock.
Alphabet also plans a $40 billion at-the-market offering program for Class A and Class C stock over time, expected to begin in the third quarter.
Berkshire Hathaway has agreed to buy $10 billion of Alphabet stock through a private placement. The deal includes $5 billion in Class A common stock at $351.81 per share and $5 billion in Class C capital stock at $348.20 per share.
The investment adds to the position Alphabet Berkshire Hathaway has built since the third quarter of 2025.
Alphabet expects capital expenditures of $180 billion to $190 billion in 2026. The company also expects spending in 2027 to increase significantly compared with 2026.
The company generated $174 billion in operating cash flow during the 12 months ended March 31. It has also raised more than $85 billion of debt across six major currencies and markets over the last year, bringing its total debt balance to more than $100 billion.
Alphabet’s revenue grew 22% year over year to $110 billion in the first quarter. Google also reached 350 million paid subscriptions during the quarter.
The company said demand for its AI products and services from businesses and consumers is exceeding available supply, prompting the larger investment plan.
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