Alphabet (GOOGL) raises $84.75 billion in equity offering

AI Summary

Alphabet (GOOGL) has increased its equity offering to $84.75 billion, signaling strong investor interest in tech firms expanding their AI capabilities. Initially set at $80 billion, the new plan includes $18 billion through Class A and C shares, and $16.75 billion via depositary shares. The company's overall capital spending forecast has also been raised by $5 billion to between $180 billion and $190 billion. This strategy reflects a shift in funding methods among major tech companies as they collectively aim to exceed $700 billion in spending this year on AI infrastructure.