The Financial Times reports that Alphabet is planning approximately $85 billion in equity offerings to fund AI...

The Financial Times reports that Alphabet is planning approximately $85 billion in equity offerings to fund AI investments, marking a significant shift in capital allocation as hyperscalers cut buybacks and boost capex. This move underscores Alphabet's commitment to AI infrastructure buildout, with the raised capital likely directed toward data centers, GPU clusters, and custom AI chips. The event signals a sustained increase in AI capex from a major hyperscaler, directly benefiting GPU suppliers (NVDA), foundries (TSM), networking and ASIC partners (AVGO, MRVL), and AI chip competitors/partners like AMD. FT notes that this is part of a broader trend where Big Tech is raising capital rather than returning it to shareholders, indicating confidence in AI's long-term ROI. The $85B figure is a concrete, high-confidence signal of expanding AI infrastructure spending. Source: FT article.