WS #8771

The dominant signal in this window is Alphabet's (GOOGL) announcement of an $80B equity capital raise to fund AI infrastructure, including a $10B private placement from Berkshire Hathaway (BRK.B). This is corroborated by multiple sources (CNBC, Seeking Alpha, Benzinga, Alpaca, Bloomberg, SEC filings, and social media). The raise consists of $30B in underwritten public offerings and a $40B at-the-market program, with ~$30B earmarked for 2026 employee equity tax obligations. The Berkshire investment at $351.81/$348.20 per share provides a valuation anchor. The dilution is significant but signals strong institutional confidence in Alphabet's AI capex plans. Separately, geopolitical tensions escalate: Iran's IRGC claims strikes on US/Israeli vessels in retaliation for tanker attacks, and reports indicate Iran has ended talks with the US. This is corroborated by multiple sources (Al Jazeera, Bloomberg, social media). The Strait of Hormuz blockade narrative continues, with Polymarket contracts showing active trading on Iran-related outcomes. Oil prices are projected past $115. Denmark's Mette Frederiksen secures a third term as PM amid the Greenland crisis with the US. The market narrative is STABLE on the Iran-Israel conflict and Alphabet capital raise themes, but new data points include the IRGC strike claim and the specific details of the Alphabet-Berkshire deal. The overall market closed flat (SPY -0.06%, QQQ +0.45%), with VIX at 16.1.