Alphabet raises $80bn in first stock offering in over 20 years

Alphabet announced on June 1, 2026 that it will raise $80 billion in equity, marking the company’s first stock offering in over 20 years. The transaction consists of a $30 billion underwritten stock offering, a $40 billion at-the-market share programme, and a pre-arranged $10 billion equity investment from Berkshire Hathaway.

Alphabet said roughly half of the proceeds will be used for general corporate purposes, including capital expenditures to scale AI infrastructure and global compute. The company said the remaining proceeds will be used to meet tax obligations connected with the vesting of employee equity awards.

Alphabet’s filing said capital expenditure for the 2026 financial year is expected to reach $180 billion to $190 billion, and that 2027 capital expenditure is expected to increase significantly. The announcement follows Alphabet’s authorization of a $70 billion share repurchase programme in April 2025.