Berkshire Hathaway Invested in Alphabet Shares!

Alphabet shares increased by 5.5% in pre-market trading on Monday, November 17th. Investors reacted after the major investment firm Berkshire Hathaway announced that it holds shares in the tech company.

This is seen as one of the last major moves that the group led by Warren Buffett could make. In a statement made on Friday, it was noted that Berkshire owned 17.85 million shares in Google's parent company as of September 30th.

According to Reuters calculations, this share amount is estimated to be worth approximately $4.93 billion at market close. Berkshire's move comes at a time when concerns are growing about the heavy spending of large technology companies in the field of artificial intelligence and whether AI valuations are excessive.

Buffett is set to complete his 60-year tenure as Berkshire CEO at the end of the year. It is not possible to know which person or people made this specific purchase; however, Buffett generally oversees larger investments. Notably, Berkshire has typically stayed away from technology stocks. Although Apple is the group's largest stock investment, Buffett views it not as a technology investment but as a consumer products company.