Alphabet (GOOG, GOOGL) has announced a proposed $80 billion equity capital raise to fund AI infrastructure, which includes a $40 billion at-the-market (ATM) offering expected to begin in Q3 2026. As part of this move, Berkshire Hathaway has agreed to a $10 billion private placement, purchasing Class A shares at $351.81 and Class C shares at $348.20. The shift from buybacks to equity offerings for AI capex may set a precedent for other "Mag 7" companies, specifically META, AMZN, and MSFT.