Google CEO Sundar Pichai speaks during the Google I/O 2026 technology developer conference in Mountain View, California, on May 19, 2026.
Karl Mondon | AFP | Getty Images
Alphabets said Monday it plans to sell $80 billion in stock, including a $10 billion investment by Berkshire Hathaway.
Google’s parent company said in a statement that the capital will “fund investments in world-class AI computing infrastructure to meet its unprecedented customer demand.”
“The company is experiencing strong demand for its AI solutions and services from businesses and consumers, at levels that exceed the company’s available supply,” Alphabet said. “By increasing its investment, the company seeks to expand its core infrastructure to support a significant future growth opportunity.”
Google is investing heavily in artificial intelligence as it races to catch up with other tech hyperscalers. The company in April revised its forecast for capital spending this year to between $180 billion and $190 billion, down from its previous estimate of $175 billion to $185 billion. At the time, when asked what kept Google executives up at night, CEO Sundar Pichai said “computer capacity.”
“Be it energy, land, supply chain constraints, how do you scale up to meet this extraordinary demand of this time?” he said.
Alphabet, Microsoft, Meta and Amazon are expected to pour more than $700 billion combined this year in capex. Wall Street analysts estimate that total AI capex could rise to more than $1 trillion by 2027.
Credit markets have also been very important to the development of AI. Coins held a global bond issue of more than $30 billion in February, and went to the European market to raise about $11 billion in premium and Swiss francs. That followed a $25 billion bond sale in November.
Alphabet’s stock has more than doubled in the past year, outperforming all of the company’s peers, as investors applauded AI investments and the returns Google is seeing from its Gemini development. The stock fell in extended trading on Monday.
In addition to the $10 billion from Berkshire, Alphabet is planning $30 billion in underwritten offerings, including $15 billion in “depository shares representing convertible preferred stock.” The remaining $40 billion will come from an initial public offering of Class A and Class C shares, which is expected to begin in the third quarter.
Goldman Sachs, JPMorgan Chase again Morgan Stanley are acting as joint bookrunners for the underwritten offerings, and Goldman is the placement agent for the private placement.
Berkshire has been building a position in Alphabet since the third quarter of last year. Before Monday’s announcement, the investment firm’s stake in the search giant was valued at $20 billion, one of the highest positions.
When Berkshire unveiled a $4.3 billion bet on Alphabet in November, it marked one of its most significant tech investments in years. Apple’s is a major company.
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