On Monday, Alphabet, Google's parent company, announced plans to raise $80 billion through stock issuance to support its massive artificial intelligence infrastructure development initiative. In a statement, the company said the raised funds will be used "for general corporate purposes, including capital expenditures to expand AI infrastructure and global computing capacity." As part of this financing plan, Alphabet will issue shares worth $10 billion directly to Berkshire Hathaway Inc., the large global holding company once led by Warren Buffett. In its announcement, Alphabet noted that demand for AI solutions and services among enterprise customers and consumers remains strong, far exceeding current supply capabilities. "By increasing investment, we aim to scale up foundational infrastructure to capture significant growth opportunities ahead," it stated. At last year's Google I/O conference, CEO Sundar Pichai indicated that the company expects capital spending to reach between $180 billion and $190 billion before the end of the year. Tech giants collectively, including Google, are projected to invest as much as $700 billion in AI-related capital expenditure this year.