Tech
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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