Berkshire Hathaway Doubles Down on Alphabet with Record Investment

Berkshire Hathaway's growing bet on Alphabet is driving up the tech giant's stock price. In the second quarter, Berkshire added approximately $17 billion to its holdings of Alphabet shares.

This new investment brings Berkshire's total holding of Alphabet shares to about 106 million, making it the company's third-largest stock holding. Berkshire CEO Greg Abel described Google as a 'significant player' in artificial intelligence and explained that his team's experience using AI across their businesses helped drive its interest in Google.

'We have a lot of visibility from within our companies as to how we're using AI, what type of benefits it's delivering,' Abel told CNBC. This confidence in Alphabet's position in the technology sector contributed to Berkshire's decision to increase its investment.