Alphabet to raise $80bn from share sales to fund AI spending splurge – business live

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The economics of the AI boom are back in focus today, after Google’s parent company Alphabet said it plans to raise up to $80bn in equity to fund its vast AI infrastructure investments.

AI is driving an expansionary moment for Alphabet. The company is experiencing strong demand for its AI solutions and services from enterprises and consumers, at levels that are exceeding the company’s available supply. By scaling its investments, the company seeks to expand its foundational infrastructure to support the significant growth opportunity ahead.

“Funding of the AI capex boom is becoming an increasingly key topic for markets.”

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3pm BST: Bank of England governor Andrew Bailey: Oral evidence to the Lords Economic Affairs Committee