Alphabet’s Fine Print Reveals Hidden Cost of the AI Talent War

Alphabet’s plan to sell $80B worth of shares, billed as a way to pay for AI infrastructure and compute, is surprising enough, given the capital raise’s size and the fact that the company last raised equity 21 years ago, when Gwen Stefani’s “Hollaback Girl” was the song of the summer. But there’s another eye-catching detail in the offering’s fine print that reflects an underappreciated reality of big tech’s AI arms race. Nearly 40% of the Google parent's proceeds aren’t going to data centers at all, but to cover tax obligations tied to employee equity awards, the company said on Monday.