Google owner Alphabet to sell $80bn in stock to fund AI spending spree

Markets take note as world’s biggest equity fundraiser bids to garner more money than three biggest-ever IPOs combined Kenneth Rogoff: will AI create a permanent underclass? Google’s parent company, Alphabet, has said it plans to raise up to $80bn (£59bn) in equity to fund its vast artificial intelligence infrastructure investments, raising further questions over the economics of the AI boom. The move, the largest equity fundraising ever according to analysts, includes a $10bn share sale to the US investment group Berkshire Hathaway, which was led until last year by Warren Buffett. Continue reading...