Alphabet priced an upsized $84.75 billion total equity raise on Tuesday June 2 - the largest corporate equity fundraising on record and its first stock offering in 20 years - comprising $30B of underwritten public offerings ($15B mandatory convertible preferred depositary shares + $15B common stock), a $40B at-the-market program beginning in Q3 2026, and a $10B Berkshire Hathaway private placement ($5B Class A at $351.81 / $5B Class C at $348.20). The raise explicitly funds AI compute infrastructure: Alphabet expects to spend over $180B on capital expenditures in 2026 (double the 2025 figure) with more expected in 2027. GOOGL fell ~4% on the dilution. The most direct demand-side (hyperscaler capex) confirmation of the AI cycle to date; corporateMetric typing omitted - the finance schema has no capital-raise / capex metric individual and Alphabet has no sec.<ticker> instance in the securities baseline.