Berkshire Hathaway Doubles Down on Alphabet with $10 Billion Bet

Berkshire Hathaway has expanded its stake in Alphabet by committing an additional $10 billion to the tech giant, making it the conglomerate's third-largest publicly traded equity holding. This investment follows a $10 billion position increase executed approximately three months prior and was made at a 6.5% discount to prevailing market prices.

Greg Abel, CEO of Berkshire Hathaway, emphasized that both he and Warren Buffett gave joint approval for this substantial follow-up investment in Alphabet, which is behind Google's AI development efforts.

Abel noted that data centers currently account for roughly 8% of electrical demand from Berkshire Hathaway Energy's Iowa operations and that the company sees AI data centers as a transformative growth avenue for its energy division. He also stated that the energy unit will only pursue AI hyperscaler contracts if current customer rates remain unaffected.