Berkshire Hathaway shares climbed this week as investors shifted money out of struggling technology stocks and into the conglomerate, which has relatively little exposure to artificial intelligence. Concerns about heavy spending on data centers have prompted the move.
One month ago, Berkshire B shares trailed the S&P 500 by 13.6 percentage points for the year. This week, after three record-high closes, Berkshire now leads the benchmark by 5.8 percentage points.
Berkshire more than doubled its share repurchases last quarter to $9.6 billion, while operating earnings declined slightly, the company said Saturday.