News
Berkshire Hathaway shares surge amid AI fears
Berkshire Hathaway stock rose over 5% this week, outperforming the S&P 500 by 5.8 points as investors shift from tech to the conglomerate. The rally follows a recovery from a 15% drop after Warren Buffett announced his CEO departure. Berkshire’s Q3 earnings are due soon, and analysts note its reduced cash pile and mixed AI exposure, including a $30.2 billion stake in Alphabet that fell 20% since June. Other holdings such as Japanese trading houses, Chevron, and Chubb performed well, while Apple and other tech stocks lagged.