Warren Buffett piled into Alphabet to bet big on AI, successor Greg Abel says
Greg Abel shed light on Warren Buffett's post-CEO role at Berkshire Hathaway and massive Alphabet wager in a rare TV interview.
Berkshire Hathaway's new CEO, Greg Abel, revealed that Warren Buffett continues to play a significant role in the company's decision-making process, including a substantial investment in Alphabet. Buffett, who stepped down as CEO this year after nearly six decades, built a nearly $38 billion stake in Alphabet in under a year, recognizing the AI boom's potential impact on businesses and beyond.
Berkshire Hathaway made a $10 billion investment in Alphabet at a 6.5% discount to its market price, following an invitation from the company in May. This move came after Abel consulted with Buffett, a practice that Abel said aligns with how Berkshire manages its investments. The Alphabet position is one of many businesses held by Berkshire, which also includes interests in See's Candies, Geico, American Express, and Coca-Cola.
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