Google owner Alphabet is selling $80 billion worth of shares to finance its AI buying spree

Google’s parent company Alphabet has announced plans to raise up to $80 billion (£59 billion) in equity to fund its major investments in artificial intelligence infrastructure, raising further questions about the economics of the AI ​​boom.

The move, one of the world’s largest ever capital raisings, involves a $10 billion share sale to U.S. investment group Berkshire Hathaway, which until last year was led by retired investment guru Warren Buffett for 60 years.

Alphabet, which is behind the Gemini system that has increased its share of the AI ​​chatbot market, said it would use the money to expand its “world-class AI computing infrastructure to meet its unprecedented customer demand.”

The California-based company said: “AI is driving Alphabet’s expansion. The company is experiencing strong demand from businesses and consumers for its AI solutions and services, exceeding the company’s available offerings.”

“By scaling its investments, the company aims to…