Berkshire Hathaway Bets Big on AI Energy Demand and Alphabet (GOOGL) Stock
TLDR
- Berkshire Hathaway CEO Greg Abel says AI data centers are a major opportunity for the company’s energy business
- Berkshire Hathaway Energy currently gets about 8% of its electrical load from data centers in Iowa
- Berkshire recently invested an additional $10 billion in Alphabet, making it the company’s third-largest stock holding
- Abel took credit for the Alphabet investment, made at a 6.5% discount to the stock price
- Abel says the energy business will only serve AI hyperscalers if it does not raise rates for existing customers
Berkshire Hathaway CEO Greg Abel says the company sees opportunity in the growing power needs of AI data centers. He also revealed that Berkshire made a fresh $10 billion investment in Alphabet, Google’s parent company.
Abel spoke about both topics in a CNBC interview on Wednesday, September 2.
Berkshire Goes Bigger on Alphabet
Berkshire Hathaway has made Alphabet its third-largest common stock holding after adding $10 billion to its position about three months ago.
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