Stocks
Berkshire Doubles Down on Google
Berkshire Hathaway has significantly increased its stake in Alphabet, parent company of Google. According to CEO Greg Abel, Alphabet's strength in AI was a key factor in this decision.
The conglomerate's investment was initiated by Warren Buffett during his final months as CEO and has grown to around 106 million shares. This represents an additional $10 billion invested on top of the original stake.
Abel stated that Alphabet's position as a 'significant player' in AI was a fundamental reason for Berkshire Hathaway's investment, citing its potential impact on American businesses and companies like those owned by Berkshire Hathaway.