Alphabet to Raise $80 Billion in Equity for AI Spending (3)

Google parent Alphabet Inc. is raising $80 billion through a package of equity offerings, including an investment deal with Berkshire Hathaway Inc., to help fund ambitious and growing artificial intelligence spending plans.

The undertaking includes a $40 billion so-called at-the-market program, which would involve the company selling shares directly into the open market from time to time beginning in the third quarter, according to a statement Monday. The company will also offer $30 billion in underwritten offerings of shares and mandatory convertible preferred stock, as well as the $10 billion deal with Berkshire.

Together, the transactions represent one of ...