Google Raises $80B for AI Hardware, Squeezing AI IPOs

Alphabet is raising $80 billion through new equity offerings to expand its AI hardware footprint, per Bloomberg. The plan includes $40 billion in new stock starting in the third quarter, $30 billion in underwritten shares and mandatory convertible preferred stock backed by Goldman Sachs, JPMorgan, and Morgan Stanley, and $10 billion from Berkshire Hathaway. The timing pressures competitors SpaceX, Anthropic, and possibly OpenAI, which have filed for IPOs to attract AI-focused investors. An SEC filing is expected to clarify terms. The move signals Alphabet is aggressively competing for capital that might otherwise fund rival AI companies going public.