Alphabet’s shares climbed sharply this week after Warren Buffett ’s Berkshire Hathaway revealed a multibillion-dollar investment in the Google parent. The move is significant because Buffett has rarely backed fast-growing tech firms. Filings showed Alphabet is now one of Berkshire’s top ten holdings. A quarterly 13F filing showed Berkshire held around $4.3 billion worth of Alphabet shares as of 30 September. According to CNBC, this makes Alphabet the conglomerate’s 10th-largest holding. Berkshire purchased 17.85 million shares, valued at $4.93 billion based on last Friday’s close. Buffett has been cautious about traditional tech stocks for decades. As per CNBC, he only viewed Apple—Berkshire’s largest investment—as a consumer-products company rather than a tech business.

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