Berkshire CEO Abel Sees Opportunity for Energy Business From AI
Abel said Berkshire sees rising electricity demand from AI growth, and Alphabet became its third-largest stock holding after a $10 billion initial investment.
- On Wednesday, Berkshire Hathaway Chief Executive Greg Abel told CNBC he views Alphabet as a "significant player" in artificial intelligence, highlighting opportunities for the conglomerate's energy business from AI data center buildout.
- Visibility into AI adoption across Berkshire portfolio companies prompted Abel and Berkshire Chairman Warren Buffett to authorize an additional $10 billion investment three months ago.
- The conglomerate expanded its Alphabet position by 224% in the first quarter of 2026, with recent SEC filings showing roughly 106 million shares now valued at approximately $36.6 billion, ranking third-largest in equity holdings.
- "I've sort of always had the strong view that energy would be the constraint," Abel said, noting about 8 per cent of the load in Iowa, where Berkshire Hathaway Energy is based, came from data centers last year.
- Alphabet's $85 billion equity raise earlier this year fueled a record $251 billion in U.S. equity issuance during the first half of 2026, underscoring massive capital requirements for ongoing AI expansion.
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Berkshire Hathaway CEO Greg Abel sees AI, power demand as new engines of growth
Berkshire Hathaway sees AI opportunities beyond technology stocks. The company is investing in Alphabet, a significant player in artificial intelligence. Berkshire Hathaway Energy could benefit from data center power demands. Consumers still face economic pressures from inflation and mortgage rates. Long-term investments in Japanese trading houses remain a strategic focus.
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