Andrew, Ben, and Tom discuss Google&#x27;s $80 billion equity raise to fund AI infrastructure CapEx through mandatory convertible preferred stock, Class A and C common stock, and an at-the-market offering, Berkshire Hathaway taking a $10 billion stake at a discount, the administrative shift to corporate cash for employee RSU tax obligations, the broader AI cash crunch with $80 billion of SpaceX stock and Anthropic&#x27;s IPO filing hitting the market, and which hyperscaler MSFT, ORCL, META, or AMZN could be next to raise. Join our live YouTube stream Monday through Friday at 8:30 AM EST: http://www.youtube.com/@TheMorningMarketBriefing Please see disclosures: https://www.narwhal.com/disclosure

Google Raises $80B in Equity to Fund AI CapEx – Who's Next, MSFT or ORCL? | June 2, 2026 – Morning Market Briefing

The Morning Market Briefing

# Full Transcript

**Podcast:** The Morning Market Briefing

## Transcript

Hey everybody, welcome to the Morning Market Briefing, Tuesday, June 2, 2026. Hope you're doing well out there. We've got lots to get to. Let's open up with the war before we get to the ISM Manufacturing Report and various cash news, company news, companies raising cash, all that good stuff.

Trump says a deal could happen within a week to open the strait. The Iranians saying nah, Trump talking to ABC apparently had a very heated exchange with young BB, old BB yesterday. Ben, we can get into what's been said, but why would a listener out here now think this is going to happen in the next week?

Well, Iran was saying that we're not talking and then Trump had his call and then basically said, everyone hates you to BB. No one likes you. You need to be thankful and say thanks.

And then Trump went to Iran said, sorted it out. Israel's not going to be going into Lebanon. And so that was the little glitch, but we sort of the glitch out. And now he says we're looking good on a deal. So that would be the positivity.

The other piece is I think that we're still kind of getting aligned on some of those last talking points. And we talked about it on Friday about why we think the deal might be getting close. The prediction markets have gone the other way, but I still think that there is a chance here.

I mean, it has to happen because it's all of this is happening where we're pushing up against right now. Trump is feeling pretty good. The bond markets have calmed down a little bit. Besson's probably feeling a little bit better about life now that we're well below the 450 level. I think we're down to 443 today, Tom. We are at a 443.4 on the 10 year.

And so and stock markets are pretty much all time high. So all good on that front on the surface level. But I think that we're starting to push a little bit in terms of how much the markets can be able to take. So I'm interested to see what happens there. Oils contained for the moment. But again, prediction market saying that a deal is less likely. I think that that cannot continue to persist like that.

Some fiery quotes from the call with Netanyahu. Trump saying you're freaking crazy. That was a substitution there. You'd be in prison if it weren't for me. They said that Trump said he was pissed and at one point said, what the F are you doing? So no more Mr. Nice guy.

I mean, this is the I think the wildest thing that's come out of this other than the rampant anti-Semitism across these United States is that the we can't we can't let even if they're an ally and it's important to have allies. And I would argue that Israel is a good ally to have given that every other part of the Middle East is against us and certainly against them is that we need to be working in the same direction.

You can't have your ally, you know, walk into the bar and just start punching people because now you're in a situation where you're in a bar fight, you know,...

Google Raises $80B in Equity to Fund AI CapEx – Who's Next, MSFT or ORCL? | June 2, 2026 – Morning Market Briefing

Transcript

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Google Raises $80B in Equity to Fund AI CapEx – Who's Next, MSFT or ORCL? | June 2, 2026 – Morning Market Briefing

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.