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

According to data compiled by institutions, Alphabet (GOOG.O) has initiated an $80 billion equity financing to raise funds for artificial intelligence infrastructure construction, which is expected to become the largest equity capital market transaction in history.

The stocks in this joint issuance (including common stock, capital stock, and similar equity mandatory convertible preferred stock) were priced later on Tuesday. Its scale will exceed the approximately $70 billion issuance of common and preferred stock by Petrobras in 2010.

The largest single transaction in this deal for Google's parent company—a $40 billion "at-the-market" issuance plan—is expected to launch in the third quarter. Such issuances allow the company to sell shares to the market from time to time without announcement, but it must regularly disclose the amount raised in regulatory filings.