Berkshire Hathaway’s CEO Greg Abel highlighted promising prospects for the company’s energy sector stemming from the expansion of AI data centers. This commentary follows their substantial investment in Alphabet, Google’s parent company, now their third-largest stock holding. Abel, speaking on CNBC, recognized Google as a major player in AI, influencing their decision to invest an additional $10 billion three months ago.
He noted the increasing impact of AI and its significant energy demands, especially regarding data centers. In Iowa, where Berkshire Hathaway Energy operates, data centers accounted for about 8% of energy load last year. Abel expressed his long-standing belief that energy supply could become a limiting factor, yet sees considerable opportunities for growth within Berkshire’s energy business.
