The fact that Google is once again selling stocks to raise funds has made analysts wonder what else are the company officials thinking of. It's already a well known fact that the money will be used to help the company explore new domains.

The question that keeps the experts awake at nights is where will Google invest its $4 billion? Will it buy new companies? Considering the sums everybody has been talking about lately (EBay has just paid $3 billion on Skype), Google will only be able to buy two companies as big as Skype. If the companies are fresh on the market, it might be enough for 3-4 companies.

Another hypothesis is that Google wants to seize AOL before Microsoft does.

Google could invest the money to strengthen its position where the company is already present, desktop searching and VoIP telephony.

A few months ago, at a press conference, Google mentioned something about a universal translator. Are the $4 billion going in that direction? Or towards another Internet project, which also involves the recently employed Vincent Cerf.

Another direction could be China and perhaps Google will acquire Baidu.com, especially since entering the new market hasn't been exactly impressive.

These are some of the directions Google might invest in, without risking much. We are all anxiously waiting for Google's decision.