Alphabet raises $84.75B equity offering to fund AI push

Deal could surpass Petrobras $70B record

This move might break the record for the largest equity deal ever, topping Petrobras's 2010 milestone of $70 billion. Investor demand was strong, with demand for multiple times the available shares.
Alphabet plans to use these funds to upgrade its AI infrastructure, especially those tensor processing units (TPUs), which are key for building powerful data centers and taking on rivals like NVIDIA.