Alphabet Raises $84.75B in Record Equity Offering to Fund AI Infrastructure, Reversing Buyback Program
By
Elena Marchetti
Pulled from the oven just right. Trustworthy, fact-dense, deeply satisfying.
Summary
Alphabet (Google's parent company) executed an $84.75 billion equity raise on June 2, 2026 — the largest single equity offering in US corporate history — reversing a decade-long $346 billion share buyback program. The funds will support a $180-190 billion AI infrastructure buildout driven by surging demand that exceeds available compute supply. Google Cloud revenue jumped 63% YoY to $20 billion in Q1 2026, with a contracted backlog of $462 billion. Berkshire Hathaway made a $10 billion bet on the offering, signaling strong institutional confidence in Alphabet's AI strategy.
Key quotes
· 5 pulledAlphabet priced an $84.75 billion equity raise on June 2, 2026 - the largest single equity offering in US corporate history
The company says AI demand is now topping its available supply of compute.
Google Cloud revenue surged 63% year-over-year in Q1 2026 to $20 billion.
Its contracted backlog has doubled over the past year to $462 billion.
APIs are now processing 19 billion tokens monthly
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