ALPHABET RAISES $85 BILLION IN THE LARGEST EQUITY DEAL IN HISTORY — BERKSHIRE BUYS $10 BILLION AS GOOGLE BETS IT ALL ON AI Alphabet has completed an $85 billion equity raise, the largest single capital raise by a corporation in American history. The company initially planned to sell $80 billion in stock but upsized after the offering was massively oversubscribed. The initial tranche raised $45 billion instead of the targeted $40 billion. Berkshire Hathaway was among the buyers, putting in $10 billion. Alphabet plans to use the capital entirely for AI infrastructure, including the build-out of data centers to meet what the company describes as unprecedented customer demand. The raise compounds an already staggering capital commitment. Alphabet said it plans to spend more than $180 billion in capital expenditures in 2026 and expects that number to rise significantly again in 2027. That is more than the GDP of most countries, spent in a single year, mostly on AI. The oversubscription of the offering tells you something important about where institutional money is going right now. Warren Buffett putting $10 billion into a tech infrastructure play of this size is not something that happens casually. The market is treating AI infrastructure the way it once treated railroads or interstate highways, as foundational public utility at industrial scale. Whoever builds the most compute wins, and Alphabet just signaled it is not going to lose that race quietly. Keywords: Alphabet equity raise, Google AI infrastructure, Berkshire Hathaway AI investment, largest equity deal, AI capital expenditures