Greg Abel Says Berkshire Sees AI Opportunities In Energy And Alphabet

According to CNBC, Berkshire Hathaway CEO Greg Abel said the company is pursuing artificial intelligence opportunities through energy supply for data centers and its nearly $36 billion stake in Alphabet. He said Berkshire views power for AI data centers as a significant opportunity, but would only serve hyperscalers if there is no impact on other customers' rates. Abel also said Berkshire bought $10 billion of Alphabet stock this spring at a 6.5% discount after Alphabet raised $80 billion to fund AI compute infrastructure. Abel said Berkshire expects to keep issuing yen-denominated debt as needed for future investments in Japan, even as Japan's 10-year bond yield rose above 3%, its highest level in 30 years. He said Berkshire plans to hold its stakes in Itochu, Marubeni, Mitsubishi, Mitsui and Sumitomo for many decades and described its partnership with Tokio Marine as broad, while declining to comment on reports about specific acquisition targets. He also said Berkshire sees no immediate recovery in U.S. homebuilding and expects Taylor Morrison to be a strong asset in five to 10 years.