53 minutes ago
1
Warren Buffett spent decades dismissing tech stocks he didn’t understand. His successor apparently has fewer reservations.
Berkshire Hathaway disclosed a $4.3 billion stake in Alphabet during the third quarter of 2025, one of the most consequential portfolio moves the company has made in years. It arrived shortly before Buffett formally retired as CEO on December 31, 2025, handing the reins to Greg Abel.
The timing matters. This wasn’t a Buffett trade. It’s the first major signal of where Abel intends to take one of the world’s most closely watched investment portfolios.
What actually happened with Nvidia
Headlines claiming Berkshire “dethroned” Nvidia as the world’s largest company are, to put it charitably, doing a lot of creative math.
Nvidia’s market capitalization sits somewhere between $5.1 trillion and $5.7 trillion as of mid-2026, making it the largest publicly traded company on the planet. Berkshire’s market cap is approximately $1.0 to $1.1 trillion.
Berkshire has never held a position in Nvidia. Buffett historically avoided high-growth tech names, preferring businesses with durable competitive moats and predictable cash flows.
Nvidia reported record quarterly revenue of $57 billion in Q3 2025.
Abel’s portfolio and the AI concentration trade
The Alphabet position didn’t land in isolation. By mid-2026, Berkshire’s roughly $330 billion equity portfolio had more than 28% of its weight in Alphabet and Apple combined, two companies that are both, in different ways, deeply embedded in the AI buildout.
Apple sits at the consumer-facing end of AI deployment. Alphabet owns the search infrastructure, the cloud compute layer through Google Cloud, and the DeepMind research operation.
That’s a meaningful departure from the old Berkshire playbook, which leaned heavily on insurance, railroads, energy, and consumer staples.
What this means for crypto and alternative asset investors
Berkshire itself has maintained a clear separation from crypto. Buffett famously called Bitcoin “rat poison squared.” Abel has not reversed that stance, and there is no indication Berkshire has any exposure to digital assets. For an institution managing over $300 billion in equities, that’s a deliberate choice, not an oversight.
Nvidia’s dominance in the GPU market also has indirect implications for crypto miners, who compete with AI data centers for the same high-end chips. As demand from hyperscalers like Google, Microsoft, and Amazon continues to absorb Nvidia’s production capacity, mining operations face structural pressure on hardware availability and cost.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
English (US) · 