Greg Abel Says Berkshire Will Serve the Hyperscalers Only If Its Other Customers Don't Pay for It
The CEO put conditions on serving the AI build-out. Iowa shows what happens when a project clears them.
Overview
Berkshire Hathaway (NYSE:BRKA)(NYSE:BRKB) CEO Greg Abel joined CNBC's "Squawk Box" from Tokyo on Wednesday, and the most detailed answers covered the business he knows best. Abel ran Berkshire's energy operation for years before succeeding Warren Buffett as CEO in January.
So when the conversation turned to artificial intelligence (AI) data centers and the power they need, he had specifics.
Details
His message came with a condition attached. Berkshire wants the hyperscalers' business (the giant cloud companies building those data centers), but only on terms that leave its utilities' other customers unharmed. That bar matters because the energy business is one of Berkshire's better growers this year, earning about $2 billion in the first half. How much of that growth can Berkshire capture on those terms?
Source
Originally published at www.fool.com.