Google parent Alphabet expands fundraising to $85 billion amid AI race

Google parent Alphabet is making one of the biggest bets on artificial intelligence, increasing its planned equity raise to a record-breaking $85 billion from the $80 billion it announced just two days ago, as reported by Bloomberg.

This indicates how aggressively the world’s largest technology companies are investing in AI infrastructure, even if it means tapping public markets for funding. For Alphabet, the additional capital will help support its rapidly growing spending on data centres, AI chips and computing power needed to compete in the global AI race.