By Katherine Hamilton

Alphabet has increased the size of its equity capital raise to $84.75 billion to help fund its spending on artificial intelligence.

Google's parent company had announced earlier this week that it planned to issue $80 billion in equity, including a $10 billion investment from Berkshire Hathaway.

Alphabet priced its offering of 25.5 million Class A shares at $355.20 a share, and its offering of 25.5 million Class C capital shares at $351.80 a share.

It priced 167.5 million Series A depositary shares at $50 a share and the same number of Series B depositary shares at the same price.

The Class A and C stock offering was upsized to $18 billion from $15 billion, while the depositary share offerings were increased to $16.75 billion from $15 billion.

Alphabet estimates net proceeds from the Class A and C shares will be $17.8 billion, and proceeds from the depositary shares will be $16.6 billion.

The company said it intends to use proceeds for general corporate purposes, including capital expenditures to scale AI infrastructure and global compute.

Alphabet has granted underwriters of the Class A and Class C shares 30-day over-allotment options to buy up to 3.8 million additional Class A shares and 3.8 million additional Class C shares.

Underwriters of the depositary share offerings will have options to buy up to an aggregate total of 50 additional depositary shares, split evenly between the two series, within a 13-day period.

The Class A and C offerings are set to close Thursday, and the depositary share offerings are expected to close Friday.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

June 03, 2026 10:04 ET (14:04 GMT)

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