Alphabet to raise $80bn from share sales to fund AI spending splurge – business live

Rolling coverage of the latest economic and financial newsAnthropic confidentially files for initial public offering on US stock marketHere’s the details of Alphabet’s $80bn equity raise:Concurrent underwritten offerings: $30 billion underwritten public offerings, consisting of: $15 billion in depositary shares representing mandatory convertible preferred stock; and $15 billion in Class A Common Stock and Class C Capital Stock; andAt-the-market offering: $40 billion at-the-market, or ATM, offering program for Class A Common Stock and Class C Capital Stock over time, expected to begin in Q3 2026.“Alphabet’s $80 billion equity raise is a clear sign that the AI arms race is moving