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FollowingBerkshire Hathaway's new CEO reveals why Alphabet is listed as the third-largest stock position
Berkshire Hathaway's new CEO Greg Abel has rarely revealed why the company lists Alphabet (Nasdaq: GOOG) as the third-largest stock position. Abel said Berkshire is betting heavily on the technology giant because they believe Alphabet will not only benefit from the artificial intelligence boom with Google shares, but its utilities will also make money by selling electricity to data centers.
How can Berkshire profit from AI?
Greg Abel described Alphabet as an "important player" in the field of artificial intelligence. He said it was based on this judgment that he and Warren Buffett approved an increase in Alphabet stock worth $10 billion three months ago.
As of the end of June, Berkshire held approximately 106 million shares of Alphabet stock, valued at approximately US$37.8 billion. This makes Alphabet Berkshire's third-largest stock holding, behind Apple and American Express. At the same time, this position accounted for approximately 10.4% of Berkshire's $364.7 billion cash reserves.
Buffett first bought Alphabet shares in the third quarter of 2025. In an interview with Fortune magazine in July, he confirmed that the original decision was made by him, adding that all Abel's operations required his approval. However, Abel was responsible for the most recent purchase, and he seized the opportunity to buy Alphabet shares at a price of 6.5% below the market price.
Buffett previously said in an interview with CNBC in July that Google is "more likely to be a winner." He mentioned that his views have shifted since large technology companies began investing heavily in data centers and chips.
Will Berkshire sell its energy business?
Abel estimates that in Iowa, where Berkshire Hathaway Energy is headquartered, data center customers accounted for about 8% of electricity demand last year.
The company's 2025 annual report shows that its U.S. operations operate 32400 megawatts of installed power generation capacity (including projects under construction), covering a variety of energy sources such as wind, natural gas, coal, solar, hydropower, nuclear and geothermal.
Berkshire Hathaway Energy plans to invest approximately US$33.5 billion by 2026 to expand power generation, energy storage and transmission capabilities. However, Abel has set conditions for any deal with hyperscale data centers: it cannot cause electricity prices to rise for other customers; ideally, electricity prices should fall.
Buffett pointed out that IBM's recent revenue fell short of expectations and said that the arms race in the field of artificial intelligence is forcing ultra-large data center companies to follow the footsteps of their competitors to invest. Buffett also mentioned that Alphabet's own artificial intelligence spending has almost doubled to about $185 billion, a figure that keeps CEO Sandar Pichai awake at night.
