Unfortunately, we cannot get inside the head of Warren Buffett. Nor can we get inside that of his successor at the helm of Berkshire Hathaway, Greg Abel. However, we have the tools to discuss the most interesting move of the last quarter: $17 billion invested in Google, making it the historic Wall Street group’s third-largest investment by value.

The investment is significant in size even for a group with approximately $1 trillion in exposure across cash, stocks, and bonds. It is also significant on a symbolic level, because it is a trade largely driven by the AI cycle, to which Warren Buffett’s group has never had much exposure. Last but not least is Berkshire Hathaway’s longstanding attitude toward the tech world, which has never been particularly open but now appears to be on the verge of changing.

Why all this money in Google?

In fact, Warren Buffett had already provided an explanation: he decided to initiate the exposure to Google, which began as early as the end of 2025.

Warren Buffett has very precise views on the AI cycle: companies that became enormous thanks to software now find themselves playing a game they never wanted to play—namely, a game involving expensive hardware that depreciates very rapidly, with investments unprecedented in both size and frequency.

It is nevertheless a game Berkshire Hathaway wants to play, albeit with relative moderation: it has chosen Google’s strength, making significant investments—and at excellent conditions—while also taking advantage of the Mountain View giant’s substantial need for capital.

Playing, but with moderation

The choice made by Warren Buffett, or rather by Berkshire Hathaway, is very different from those made by hedge funds and other types of investors with a higher risk profile: no memory chips, no chips, no volatile assets. Instead, it is about taking advantage of a moment of relative difficulty for the Magnificent Seven to place orders, investments, and purchases in the shares of a group that remains solid even without AI.

An additional $17 billion in capital invested in Google may not seem particularly significant to most people. However, given Berkshire Hathaway’s history, it should probably be taken seriously. As is well known, Warren Buffett has never been a major tech enthusiast and has never held large investments in the sector, with the exception of his longstanding position in Apple.

What if it were a mistake?

Far be it from us to challenge the insights of Warren Buffett or his successor. It is nevertheless worth remembering that the company’s latest investment comes after Warren Buffett publicly stated for years that he had always regretted not investing in Google much earlier.

Could the great investor also be driven by a sort of desire for redemption?