Berkshire Hathaway leans into AI data centers driving energy demand
Business
Berkshire Hathaway is leaning into the AI boom, with CEO Greg Abel highlighting how AI data centers are driving up electricity demand, creating a significant opportunity for their energy business.
Last year in Iowa, these centers made up about 8% of Berkshire Hathaway Energy's load.
Abel says energy is "a significant opportunity" as AI keeps expanding.
Berkshire buys $10B Alphabet stake
To back this vision, Berkshire recently invested $10 billion in Alphabet (Google's parent company), making it their third-largest stock holding.
Abel grabbed shares at a discount, and Warren Buffett helped authorize the $10 billion investment, with Greg Abel calling Google "a significant player" in AI.
With Abel leading the charge on this move, Berkshire is doubling down on technology.