June 1 (Reuters) – Alphabet said on Monday it aims to raise $80 billion in equity offerings, which will include an investment deal with Berkshire Hathaway.
The Google parent has agreed to sell $10 billion worth of shares to Warren Buffett’s Berkshire Hathaway in a private placement, comprising $5 billion in Class A common stock at $351.81 per share and $5 billion in Class C capital stock at for $348.20 per share.
“The company is experiencing strong demand for its AI solutions and services from enterprises and consumers, at levels that are exceeding the company’s available supply,” Alphabet said.
The company’s shares were down 1.2% after the bell.
(Reporting by Harshita Mary Varghese in Bengaluru; Editing by Arun Koyyur)
