Google-parent Alphabet share rises as Berkshire reveals $4.9 billion stake

Google-parent Alphabet’s shares rose 5.2% on Monday, November 17 after Berkshire Hathaway disclosed a stake in the tech company, says a Reuters report. A regulatory filing recently showed that Berkshire held 17.85 million Alphabet shares as of September 30. Based on the stock’s last close, the stake was valued at $4.93 billion. Notably, Berkshire also reduced its stake in Apple. The investment marks a rare move by Berkshire into large technology stocks at a time when major tech companies are increasing spending on artificial intelligence.

Buffett, known as the “Oracle of Omaha,” will step down as Berkshire’s CEO at the end of 2025 after more than six decades. He will be succeeded by Greg Abel.