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Berkshire Hathaway (BRK.A) (BRK.B) is signaling that its AI strategy extends well beyond simply owning technology stocks. CEO Greg Abel says the conglomerate remains bullish on hyperscalers, with Alphabet (GOOG) (GOOGL) now its third-largest common-stock holding after Berkshire authorized an additional $10 billion investment in Google’s parent. Abel described Alphabet as a significant AI player while highlighting Berkshire’s firsthand visibility into how its portfolio companies are adopting AI.
The bigger opportunity, however, may lie in the infrastructure powering the AI boom. Abel believes electricity could become a key constraint as hyperscalers race to build data centers, creating a potentially meaningful growth avenue for Berkshire Hathaway Energy. In Iowa, data centers already accounted for about 8% of the utility’s electricity load last year.
