Alphabet Plans $80 Billion Equity Raise to Fund AI Infrastructure

Alphabet announced in a press release that it plans to raise $80 billion through equity offerings to fund investments in AI infrastructure and global compute capacity. The company cited strong demand for its AI solutions across enterprise and consumer markets.

The plan includes $30 billion in underwritten public offerings, split evenly between depositary shares representing mandatory convertible preferred stock and common stock, and a $40 billion at-the-market program expected to begin in the third quarter of 2026. In addition, Berkshire Hathaway has agreed to purchase $10 billion of stock through a private placement, divided equally between Class A and Class C shares.

Alphabet stated that proceeds from the offerings will be used for general corporate purposes, including capital expenditures to scale AI infrastructure. Approximately $30 billion from the at-the-market program will be used to meet tax obligations related to employee equity awards, with remaining funds allocated to broader corporate needs.

Goldman Sachs, J.P. Morgan Securities, and Morgan Stanley are acting as joint book-running managers for the underwritten offerings, while Goldman Sachs also serves as placement agent for the private placement. The company expects to list the depositary shares on the Nasdaq Global Select Market under the symbols GOOGM and GOOGN.