Stocks
Berkshire Invests Big in Alphabet to Tap AI Data Center Boom
Berkshire Hathaway's CEO Greg Abel sees significant opportunities in AI data centers after the conglomerate made Alphabet its third-largest common stock holding.
The company invested an additional $10 billion to help Google and YouTube parent build further AI infrastructure, with a current stake of almost 106 million shares worth about $37.8 billion.
Abel attributed the investment decision to Alphabet's status as a significant player in AI, which prompted Berkshire and its chair Warren Buffett to authorise the additional funding three months ago.
The energy business could also benefit from AI growth, with data centers accounting for about 8% of Iowa-based Berkshire Hathaway Energy's load last year.