Alphabet goes from $11.5B buyer to $12.4B seller of its stock; Meta launches $97.5B share sale
aakashgupta · x · 2026-11-02
Google was long one of the biggest buyers of its own stock, but this fall it stopped buying and started selling new shares, while hedge funds exit US equities at a record pace. Alphabet bought back $11.5B of its stock in Q3 last year; in the same quarter this year it repurchased zero and sold $12.4B of new shares.
Meta followed suit: five days after reporting its first negative free-cash-flow quarter in over a decade, it launched a share sale of up to $97.5B, including a $60B program to drip new shares into the market from early next year. Nvidia put in $3B — a chip supplier now funding its own customer. The marginal buyer propping up mega-cap AI stocks has flipped.
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