Alphabet Launches Massive Fundraising for AI Infrastructure Expansion

Alphabet Inc. (NASDAQ: GOOGL), Google’s U.S. parent company, disclosed in an 8-K filing on June 4 that it has attached a legal opinion from Cleary Gottlieb Steen & Hamilton confirming that shares issued under its at-the-market equity offering program—targeting up to $40 billion (approximately KRW 50 trillion) of Class A and Class C common stock—will be validly issued, fully paid shares under Delaware law.

On May 29, Director Frances Arnold sold a small number of Class C shares under a pre-established Rule 10b5-1 trading plan, and she continues to hold equity and equity-based compensation valued at tens of millions of dollars.

Separately from this ATM program, Alphabet has upsized its planned equity issuance—including common stock and depositary shares—to $84.75 billion (about KRW 110 trillion) to fund investments in AI data centers and compute infrastructure. Berkshire Hathaway has agreed to invest $10 billion of that total through a private placement.

The company said it intends to use the proceeds for general corporate purposes, including expanding AI infrastructure and global computing capacity.

Alphabet, a global big-tech holding company that generates most of its revenue from Google Search and YouTube advertising, has broadened its business into generative AI services such as Google Cloud, DeepMind, and Gemini. It is widely regarded as a key driver of the AI infrastructure investment race in the U.S. telecommunications and IT sectors.