$80 billion invested in AI infrastructure, Google is really going all-in this time, releasing $4 billion worth of ATM in Q3 without prior notice, a bold move.

According to institutional data, Alphabet has launched as much as $80 billion in equity financing for artificial intelligence infrastructure, which could become the largest equity deal in history. The offering covers common stock, capital stock, and mandatory convertible preferred stock, and the size may exceed Petrobras’ approximately $70 billion issuance in 2010. The largest single issuance of $4 billion at market price is set to begin in the third quarter; it would allow share sales without prior announcements, but would require disclosure of the fundraising amount.