GOOGL · 10-Q · 2026Q2 · Full report

Equity Capital Raise

Alphabet Inc. · 2026-07-23 · Importance 71 · Surprise 60 · In source text

In June 2026, Alphabet issued common stock and mandatory convertible preferred stock for aggregate net proceeds of $49.6 billion. The proceeds included $20.5 billion from a June 4 underwritten offering of Class A and Class C shares and $19.0 billion from a June 5 issuance of Series A and Series B mandatory convertible preferred stock. Alphabet also completed a $10.0 billion private placement of Class A and Class C shares to an affiliate of Berkshire Hathaway on June 4. The proceeds are intended for general corporate purposes, including capital expenditures to scale AI infrastructure and global compute.

Key facts

• On June 5, 2026, the company issued 385 million depositary shares representing 19 million shares of 6.25% mandatory convertible preferred stock, split evenly into Series A and Series B, for aggregate net proceeds of $19.0 billion. source
• On June 1, 2026, the company entered into an ATM Program to sell up to $40.0 billion of Class A and Class C stock; as of June 30, 2026 no shares had been sold under the ATM Program and the full $40.0 billion remained available. source
• There were no repurchases of Class A or Class C shares in the three and six months ended June 30, 2026, and as of June 30, 2026 $69.5 billion remained available under the $70.0 billion repurchase authorization. source
• On June 4, 2026, the company completed an underwritten public offering of 29 million Class A shares at $355.1982 per share and 29 million Class C shares at $351.8018 per share for net proceeds of $20.5 billion. source
• Concurrently on June 4, 2026, the company completed a $10.0 billion private placement of 14 million Class A and 14 million Class C shares to an affiliate of Berkshire Hathaway Inc. source
• In June 2026, we issued a combination of Class A stock and Class C stock and mandatory convertible preferred stock for aggregate net proceeds of $49.6 billion. source

Impact estimates