Alphabet's $80 billion equity financing may set a new fundraising record

According to data compiled by the agency, the US$80 billion equity financing launched by Alphabet(GOOG.O) to raise funds for artificial intelligence infrastructure is expected to become the largest equity capital market transaction ever. Shares in the joint offering, which includes common shares, capital shares and mandatory equity-like convertible preferred shares, were priced late Tuesday. Its size will exceed the size of Petrobras 'approximately US$70 billion in common stock and preferred stock issuance in 2010. Google's parent company's largest single deal in the deal-a $40 billion "mark-to-market" plan-is expected to start in the third quarter. Such offerings allow the company to sell shares to the market from time to time without announcement, but the amount raised must be disclosed regularly in regulatory documents.