Berkshire Hathaway sharply increased its Alphabet stake during its biggest quarter for stock buying in years. Greg Abel, who took over from Warren Buffett as CEO at the turn of the year, oversaw an 83% increase in Berkshire’s Alphabet holdings to about 106 million shares, worth nearly $38 billion at the end of June. Berkshire
Investors don’t appear to be thrilled with the shakeup in the ranks of Alphabet’s top AI minds. The stock dropped as much as 6% on Wednesday after news broke that DeepMind CEO Demis Hassabis will assume an expanded role at Alphabet. It’s a momentous shift for the trajectory of an exec who had recently been
Warren Buffett’s successor, Greg Abel, just completed his first acquisition as CEO of Berkshire Hathaway. It’s the latest sign that he’s ready and willing to build on what Buffett built. In a press release on Friday, Berkshire said it had officially acquired Taylor Morrison for $8.5 billion in cash, a deal it first announced in
The bill for Google’s AI overspending is yet to come. Google said Wednesday that its second-quarter free cash flow turned negative by $5.9 billion, as the company’s capital spending continues to rise. It’s the first time the company has reported negative free cash flow in decades, according to AlphaSense, a sign of how much money
Google’s latest earnings call offered a familiar message: AI is driving growth and also getting more expensive. On Wednesday, Alphabet reported second-quarter revenue of $119.8 billion, up 24% from a year earlier, while Google Cloud posted another successful quarter as businesses rushed to adopt AI. At the same time, executives made clear that the company
Imagine earning almost an extra $100 billion and dedicating exactly one vague sentence to it. That’s exactly what Google’s parent company, Alphabet, did in its second quarter earnings report. The tech giant reported that its “other income” amounted to $98 billion in the second quarter, saying it came from unrealized gains on its investments. Analysts
