Alphabet announces $80 billion equity raise to fund AI infrastructure, including $10 billion from Berkshire Hathaway

Alphabet announced plans to raise about $80 billion of equity to fund AI infrastructure and compute capacity. The package has $30 billion of underwritten public offerings, a $10 billion private placement to Berkshire Hathaway, and a $40 billion at-the-market program expected to start in Q3 2026. The sale of new shares dilutes existing holders, and the company said proceeds go to general corporate purposes including AI capacity.

• $30 billion underwritten public offerings in Class A/C stock and mandatory convertible preferred
• $10 billion private placement to Berkshire Hathaway: $5 billion Class A at $351.81 and $5 billion Class C at $348.20
• $40 billion at-the-market program, expected to start in Q3 2026; about $30 billion earmarked for 2026 employee equity tax obligations
• 2026 capex projection given as $180 billion to $190 billion in the release