Alphabet has announced an $80B equity raise, the largest single equity capital raise in US history, comprising $30B in underwritten public offerings, a $40B at-the-market programme, and a $10B private placement to Berkshire Hathaway.
The raise is being driven by a supply crisis: demand for Alphabet’s AI compute is outstripping what it can currently provide, with Google Cloud backlog nearly doubling quarter-over-quarter to $460B.
Berkshire Hathaway’s new CEO Greg Abel is committing $10B, one of his most significant capital deployments since taking over from Warren Buffett in January 2026.
Warren Buffett once admitted he “screwed up” by not buying Google earlier. His successor Greg Abel just wrote a $10 billion cheque into Alphabet, the same week he spent another $6.8 billion acquiring homebuilder Taylor Morrison.
Alphabet Inc., the Mountain View-based parent of Google, on June 1 announced equity offerings totalling $80 billion, the largest single equity capital raise in US corporate history. The deal comprises three concurrent tranches: $30 billion in underwritten public offerings (split evenly between common stock and mandatory convertible preferred stock), a $40 billion at-the-market programme beginning Q3 2026, and a $10 billion private placement to Berkshire Hathaway. Goldman Sachs, JPMorgan, and Morgan Stanley are acting as joint book-running managers.
