Buffett Says He Was Behind Berkshire Purchase of Alphabet Shares

(Bloomberg) -- Warren Buffett said he initiated Berkshire Hathaway Inc.'s bet on Google parent Alphabet Inc., a sign of the billionaire's support for the technology company's spending on artificial intelligence. The Berkshire chairman's successor as chief executive officer, Greg Abel, doesn't make any decision Buffett doesn't approve of, and vice versa, Buffett said in a CNBC interview Wednesday. Buffett said he made a mistake overlooking Alphabet when it was still asset-light and a markets darling. He's now changed his mind, even as the tech firm dramatically boosted its capital expenditures in the race to develop AI products. "They're more likely to be a winner based on their record than probably 90% or 95% of what gets merchandised through Wall Street," Buffett said in the interview. Berkshire started building a stake in Alphabet last year, and now owns shares worth almost $21 billion as of the market's close on Tuesday. The Omaha, Nebraska-based conglomerate also invested $10 billion in a private placement as part of an $80 billion deal to buttress the tech firm's investments in AI. While Buffett appears more inclined to invest in tech stocks, the investor still favors other businesses, he said. "I would say that I don't like it as well as at least four or five other businesses that we own," Buffett said. More stories like this are available on bloomberg.com ©2026 Bloomberg L.P. View Comments