Google's Parent Company Is Raising $80 Billion To Fuel Its AI Ambitions
Not even Alphabet has enough cash to meet its AI goals.
One of the biggest factors in the arms race for AI dominance is just how much capital companies are spending on the likes of data centers and compute power. Anthropic, which just filed to go public, last week said it had raised $65 billion in its latest funding round. OpenAI has made over a trillion dollars in spending commitments. And now Alphabet — Google's parent and one of the world's three most valuable companies (according to the whims of the stock market) — is looking for more money to fuel its AI ambitions.
Alphabet said in a press release that it's selling $80 billion of stock "to fund investments in its world-class AI compute infrastructure to meet its unprecedented customer demand." Holding company Berkshire Hathaway, which already had a stake that was worth around $20 billion, is...
Copyright of this story solely belongs to engadget.com. To see the full text click HERE
