Google parent Alphabet shares jump 5% after Berkshire Hathaway makes rare tech bet with $4.9 billion stake

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Alphabet shares rallied more than 5% on Monday as Berkshire Hathaway‘s new stake provided an endorsement of the tech giant’s artificial intelligence efforts, in one of the final major investments by the conglomerate under Warren Buffett‘s leadership.

The September-quarter purchase of 17.85 million Alphabet shares – worth about $4.93 billion – also marked a rare tech bet by Berkshire, famously averse to companies Buffett has said he cannot understand or predict. The billionaire investor has long compared Apple, Berkshire’s largest holding, to a…



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Google parent Alphabet shares jump 5% after Berkshire Hathaway makes rare tech bet with $4.9 billion stake



Alphabet shares rallied more than 5% on Monday as Berkshire Hathaway‘s new stake provided an endorsement of the tech giant’s artificial intelligence efforts, in one of the final major investments by the conglomerate under Warren Buffett‘s leadership.

The September-quarter purchase of 17.85 million Alphabet shares – worth about $4.93 billion – also marked a rare tech bet by Berkshire, famously averse to companies Buffett has said he cannot understand or predict. The billionaire investor has long compared Apple, Berkshire’s largest holding, to a…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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