Greg Abel's Berkshire Hathaway increased Alphabet stake 224% in Q1
Berkshire Hathaway, now led by Greg Abel, massively increased its investment in Alphabet (Google's parent company) by 224% in the first quarter of the current year, snapping up nearly 58 million shares.
A stake valued at about $16.6 billion at the end of the first quarter is already worth about $23 billion, making Alphabet one of Berkshire's top holdings.
Alphabet spent $35.7B on AI
Alphabet's revenue jumped 22% to nearly $110 billion last quarter, mainly thanks to Google Cloud and booming AI products (AI cloud sales alone shot up nearly 800%).
YouTube ad revenue and subscriptions like YouTube Premium also grew, with total subscribers hitting 350 million users.
But all this AI innovation comes at a cost: Alphabet spent $35.7 billion on it in just one quarter and could hit $190 billion for the year!