Berkshire Hathaway bought an additional $10 billion of Alphabet shares as Alphabet conducts an $80 billion share sale to raise proceeds for AI-related capital expenditures, a move that landed squarely on the stock market today.
The $10 billion purchase split evenly between classes: Berkshire paid about $5 billion for Class A voting shares at an average cost of $351.81 per share and another $5 billion for Class C shares at an average cost of $348.20. At the time of the trade, Class A shares were trading around $363 and Class C shares around $360. The new buys build on a position Berkshire significantly increased in the first quarter of 2026 and push Alphabet to an estimated holding of more than $31 billion — large enough to be Berkshire's fourth-largest position.
The trade follows a flurry of deal activity at Berkshire: two days earlier the company announced a $6.8 billion acquisition of Taylor Morrison Homes. Berkshire first began buying Alphabet in 2025 and accelerated in early 2026, while the firm still sits on nearly $400 billion in cash and equivalents.
Alphabet's $80 billion share sale is explicitly tied to accelerating investment in artificial intelligence infrastructure. Company plans call for tens of billions of dollars in AI-related capital expenditures — spending that the record shows will materially reduce free cash flow as data centers and custom chips are built out.
That combination is the friction in the move: Berkshire has spent the past five years largely avoiding the AI trade, yet it is buying Alphabet near its recent highs as the company commits heavy, near-term capital to AI. Warren Buffett and his team have long said they see little that is attractively priced in today’s high-valuation market, but the firm's history also shows that when Berkshire sees an opportunity it considers compelling, it makes concentrated bets.
The broader legal and market backdrop sharpens the stakes. Google, Alphabet's core business, still controls roughly 90% of global search market share, and a federal judge has ruled Google operates as a monopoly in digital advertising and search — though the judge stopped short of ordering divestitures of Chrome or other practices. Those realities leave Alphabet with both a dominant cash-generating franchise and sizable regulatory overhang as it pushes capital into areas that will depress near-term free cash flow.
For Berkshire shareholders, the purchase enlarges an already sizable tech holding and signals a willingness to increase exposure to AI-exposed infrastructure through a company that combines dominant market positions with aggressive capital plans. For Alphabet, the share sale provides immediate financing for its AI buildout while adding a large, long-term investor to the cap table.
What remains unresolved is whether this $10 billion is a finishing stroke or the start of far larger purchases. Berkshire's balance sheet gives it the firepower to keep buying, but Alphabet's planned spending and the legal questions around its core businesses create a choice between doubling down and holding steady. The market will now watch whether Berkshire treats this as another concentrated stake or as the opening of a prolonged accumulation into one of the AI-era winners.
