Google parent Alphabet said it would raise up to $80 billion (£60bn) in equity to fund its spending on AI chips and other data centre expenses, including a $10bn share sale to Berkshire Hathaway.
The Berkshire deal adds to a significant position that the holding company has been building since the third quarter of last year, and makes it one of Berkshire’s five largest publicly traded stock holdings, alongside its stake in Coca-Cola that is worth more than $31bn.
A Google data centre in Oklahoma. Image credit: Google
Berkshire deal
The private placement with Berkshire will raise its holdings in Alphabet to roughly $32bn, accounting for about one-tenth of its stock portfolio.
