Story audio is generated using AI
By Jonathan Stempel
New York — Berkshire Hathaway CEO Greg Abel said on Wednesday he sees significant opportunities from the expansion of AI data centres after the conglomerate made Alphabet its third-largest common stock holding.
Abel also said American consumers remain under stress from elevated inflation and mortgage rates, and that the housing market will be a “bumpy road” in the near term.
Speaking on CNBC, Abel described Alphabet as a “significant player” in AI, a factor that prompted him and Berkshire chair Warren Buffett to authorise an additional $10bn investment three months ago to help the Google and YouTube parent build further AI infrastructure.
