Why did GOOGL move on Jun 3, 2026?

Alphabet's stock (GOOGL) fell on June 3, 2026, after the company officially announced the upsize and pricing of its record-breaking equity capital raise to $84.75 billion. The massive offering, which was increased from an initial $80 billion proposal to fund AI infrastructure and compute expansion, stoked investor anxieties regarding near-term share dilution and capital allocation. Despite a $10 billion private placement anchor from Warren Buffett's Berkshire Hathaway, the sheer scale of the dilution and the high capital intensity of the AI buildout weighed heavily on the stock at the market open.