Shares of Google's holding company, Alphabet, soared 5.2% on the premarket on November 17 after Warren Buffett's Berkshire Hathaway disclosed a stake in the tech giant. Alphabet shares have gained 46% since the start of the year, comfortably outperforming the main U.S. index, the S&P 500, which added 14.5%.

According to a report filed on November 14, Berkshire owned 17.9 million shares of Google's parent company as of September 30. According to Reuters calculations, the value of this stake can be estimated at $4.93 billion based on the last closing price of trading.

Berkshire has made a rare bet on the technology sector amid growing investor concerns about companies' huge spending on artificial intelligence, Reuters noted.

Nevertheless, Berkshire's equity portfolio remains heavily skewed toward financial companies - they accounted for 36.6% of its investments at the end of the third quarter, according to Morningstar data cited by Reuters. But the company with the largest stake remains technology company Apple.

This article was AI-translated and verified by a human editor

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