Alphabet Inc. executed an $80B equity raise, including a $10B Berkshire investment, to fund aggressive AI-driven capex. GOOG plans $185B in 2026 capex, with pro-forma cash of $207B and robust free cash flow supporting continued AI infrastructure investment. Google Cloud's explosive 63% revenue growth, fueled by Gemini AI and a $200B Anthropic commitment, justifies further capital deployment.