Alphabet Increases Record-Breaking Stock Offering to Feed AI Demand

Two days after announcing a plan to raise $80 billion in equity capital to expand its artificial intelligence infrastructure, Alphabet raised it to $84.75 billion. The underwritten public offerings that were previously announced at a total of $30 billion have been upsized to $34.75 billion, the Google parent company said in a press release dated Tuesday (June 2) and issued Wednesday (June 3). The company’s other previously announced equity offerings remain unchanged.