Warren Buffett's Berkshire Hathaway Owns $41 Billion of Alphabet Stock: Here Are 3 Possible Reasons Why
The Omaha-based conglomerate now has sizable exposure to artificial intelligence.
Overview
Under the leadership of new CEO Greg Abel, Berkshire Hathaway is making a splash in the technology space. Based on its most recent 13F filing, the conglomerate owned 68,462,015 Class A shares and 17,944,778 Class C shares of Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) as of March 31, which today is valued at $30.7 billion. These two positions combined make up Berkshire's fourth-largest holding in a single company's equity.
On June 1, however, the Omaha enterprise announced a $10 billion private placement into the "Magnificent Seven" stock. With a total position of nearly $41 billion in Alphabet, this is now a bigger position than Coca-Cola. But it's still smaller than Apple and American Express.
Details
Investors might view these decisions as uncharacteristic of the strategy Berkshire and Warren Buffett have long operated with. This bet makes sense, though.
Source
Originally published at www.fool.com.