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Berkshire Hathaway Pours $10 Billion Into Google's $80 Billion AI Raise
(MENAFN- ValueWalk) Warren Buffett spent years calling his failure to buy Google one of his costliest mistakes. On Monday, Berkshire Hathaway put another $10 billion behind making up for it, anchoring the largest equity capital raise in Alphabet's history, and after an $8.5 bid for a homebuilder.
Alphabet unveiled a plan to raise roughly $80 billion in fresh equity to fund its artificial-intelligence buildout, and Berkshire is leading the way with a $10 billion private placement. Under the terms, Alphabet is selling Berkshire $5 billion of Class A shares (GOOGL) at $351.81 apiece and $5 billion of Class C shares (GOOG) at $348.20 apiece.
The Berkshire tranche is the cornerstone of a much larger program....
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