By Niket Nishant and Aditya Soni (Reuters) -Alphabet shares rallied nearly 6% to a record high on Monday after Berkshire Hathaway's new stake provided an endorsement of the tech giant's artificial intelligence efforts amid heightened worries over a looming bubble. The purchase of 17.85 million Alphabet shares – worth about $4.93 billion as of close on Friday – is one of the final major investments by the conglomerate under Warren Buffett and marks a rare foray into the industry by tech-averse Berkshire. The billionaire investor has long compared Apple, Berkshire's largest holding, to a consumer products company. "The stake purchase of a tech company may represent a different type of mentality at Berkshire, though it's not a total departure from its value-investing model," said Steve Sosnic
Alphabet shares hit record after Berkshire makes rare tech bet with $4.9 billion stake
The Daily Guardian16 hrs ago
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