GOOGL: Increases Capital Raise to $84.75 Billion

GOOGL lifted its capital raise target to $84.75 billion from the prior $80 billion level to fund AI infrastructure buildout amid surging demand. The structure includes $30 billion in underwritten public offerings, $40 billion via an at-the-market program starting Q3 2026, and a $10 billion private placement to Berkshire Hathaway split between Class A shares at $351.81 and Class C shares at $348.20. Berkshire has accumulated the stake since Q3 2025, while roughly $30 billion of ATM proceeds will offset 2026 employee equity tax obligations.