Berkshire Hathaway invests 10% of its portfolio in Alphabet as AI bet takes shape

Warren Buffett spent decades avoiding technology companies. Now the firm he built is writing billion-dollar checks to one of the most capital-intensive AI businesses on the planet.

Berkshire Hathaway has accumulated roughly 106 million shares of Alphabet Inc., the parent company of Google, with the position valued at approximately $36.6 to $37.8 billion as of June 30, 2026. That works out to about 10% of Berkshire’s equity portfolio, slotting Alphabet in as the firm’s third-largest holding behind Apple and American Express.

Alphabet stock rose approximately 70% year-over-year through late 2025, driven by momentum in its Gemini AI models, accelerating Google Cloud revenue, and a massive build-out of computing infrastructure.

How the position was built

Berkshire began buying Alphabet shares on the open market starting in the third quarter of 2025, with those initial purchases valued at roughly $4 to $5.7 billion. The firm then made a far larger commitment in June 2026, participating in a $10 billion private placement as part of Alphabet’s broader $80 billion equity raise earmarked for AI infrastructure expansion.

Buffett initiated the investment before stepping back from daily operations at the end of 2025. His successor, Greg Abel, has continued the strategy.

Why this matters for anyone watching the AI buildout

For context on the scale of Berkshire’s commitment, the equity portfolio was valued somewhere between $299 billion and $362 billion in 2026 filings, with the firm’s cash balances having peaked at $358 billion in September 2025. Deploying $36-plus billion into a single name is not a cautious allocation.

Alphabet’s $80 billion equity raise, of which Berkshire’s placement was a part, is one of the largest capital raises in recent technology history. Microsoft has deeply integrated OpenAI’s models across its enterprise products. Amazon Web Services continues to generate the largest cloud revenue base of any single provider. Meta is spending aggressively on its own AI infrastructure while keeping it proprietary. Alphabet is competing on all of these fronts simultaneously, using Search ad revenue as the funding engine.

There is a risk embedded in this position that Berkshire’s traditional investments rarely carried: regulatory exposure. Alphabet is currently subject to antitrust proceedings in the United States related to its dominance in search advertising. A structural remedy that forces changes to the Search distribution model could materially affect the revenue stream that funds everything else.

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