Alphabet priced an upsized equity capital raise of $84.75 billion. This total increases the initial $80 billion target to fund artificial intelligence infrastructure.
The company is scaling global compute capacity to meet surging AI service demand. The offering includes Class A and Class C stock alongside mandatory convertible preferred stock.
A previously announced $40 billion at-the-market program forms part of the total. Berkshire Hathaway contributed a $10 billion private placement to the round.
Alphabet will use the proceeds for capital expenditures to scale AI infrastructure. The company forecasts annual capital spending between $180 billion and $190 billion. This spending target is set for 2026.