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Alphabet Inc. (GOOGL.US) Increases Equity Financing Size from USD80 billion to USD84.75 billion
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Alphabet Inc. (GOOGL.US) has raised the size of its equity financing from USD80 billion to USD84.75 billion to fund substantial artificial intelligence project expenditures. Previously, Alphabet announced it would issue shares to raise up to USD80 billion, of which USD10 billion would come from an investment by Berkshire Hathaway (BRK.A.US). Alphabet priced 25.5 million Class A shares at USD355.2 per share and 25.5 million Class C capital shares at USD351.8 per share. The company also priced 167.5 million Series A depositary shares at USD50 per share and issued the same number of Series B depositary shares at USD50 per share. The issuance size of Class A and Class C shares was expanded from USD15 billion to USD18 billion, while the depositary share offering increased from USD15 billion to USD16.75 billion. Alphabet expects net proceeds of USD17.8 billion from the Class A and Class C share issuance, and USD16.6 billion from the depositary share offering. Alphabet stated that the proceeds will be used for general corporate purposes, including capital expenditures to expand AI infrastructure and global capacity. The company expects its capital expenditure this year to double YoY, with the majority of spending directed toward technology infrastructure. (mn/da) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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