Google Plans $80 Billion Stock Sale as 2026 Capital Spending Nears $190 Billion
Alphabet announced an $80 billion equity raise to expand AI infrastructure; a report says the funding also reflects rising AI investment needs and tax obligations as capital spending approaches $190 billion.
Alphabet announced an $80 billion equity financing plan to expand AI infrastructure as demand for its AI products and services exceeds available supply. The package includes a $10 billion private placement from Berkshire Hathaway, $30 billion in concurrent public offerings, and a $40 billion at-the-market program expected to begin in Q3. A separate report says the stock sale also helps fund tax obligations and marks a shift away from years of share buybacks, with capital expenditure projected to approach $190 billion. Alphabet has also raised more than $85 billion in debt over the past year, pushing total debt above $100 billion, and in April raised its annual capital expenditure forecast by $5 billion to $180 billion-$190 billion.
- AI infrastructure: The computing, networking, storage, chips, and data center capacity needed to train, deploy, and support artificial intelligence products and services at scale.
- Capital expenditure: Money a company spends on long-term assets such as data centers, servers, and other infrastructure needed for future operations.
- ATM sale: An at-the-market sale lets a company issue shares gradually into the public market at prevailing prices instead of in one large offering.