Warren Buffett’s Overlooked AI Race Pick
Warren Buffett is a polite man, and the famed investor stated in a recent CNBC interview that he’s not in the habit of “knocking the others” when it comes to the hyperscalers he might not favor investing in. However, while it’s not clear which hyperscalers Buffett might not like, it’s clear he likes Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL). Here’s what he said.
The legendary investor made it clear in the interview that he initiated Berkshire Hathaway‘s position in Alphabet and fully supported Greg Abel in building the position to 106 million shares, equivalent to about $35.5 billion at the time of writing.
The position is significant, and so is what Buffett said when asked about Alphabet and the other hyperscalers. He responded by saying that the others didn’t “have any choice. They’re now playing a game, in many cases, that they don’t want to play,” and then went on to describe how IBM had to change its business to meet its customers’ demands.
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.