Alphabet launched its first stock offering in over twenty years, upsizing the equity raise to $85bn as the tech giant seeks fresh capital for artificial intelligence investments. The massive fundraising effort marks a significant shift in the company's capital strategy.

The move comes as Alphabet intensifies its AI spending amid fierce competition from Microsoft-backed OpenAI and other rivals. CEO Sundar Pichai has prioritized AI across Google's product suite, from search to cloud services.

This represents one of the largest equity raises in corporate history, signaling how expensive the AI arms race has become. The company joins Amazon, Microsoft, and Meta in pouring billions into artificial intelligence capabilities.

Investors will watch how Alphabet deploys these funds and whether the AI investments translate to meaningful revenue growth. The equity raise provides financial flexibility but raises expectations for returns.