Key facts
- Berkshire Hathaway bought $10 billion in Alphabet stock at a discount.
- ARK Invest purchased over 267,000 Alphabet shares across multiple funds.
- The purchases occurred after Alphabet's stock dipped following an $84.75 billion equity offering.
- ARK Innovation ETF's Alphabet stake is now 2.33% of its portfolio.
- Alphabet's stock has gained 113% over the past year.
Berkshire Hathaway has acquired $10 billion worth of Alphabet common stock at a discount, marking one of the first major deals under new CEO Greg Abel. This move was followed by ARK Invest, whose flagship ARK Innovation ETF purchased 97,420 Class A and 97,420 Class C Alphabet shares on June 3, valued at over $162 million. This stake now represents 2.33% of the ETF's portfolio. ARK Invest also bought shares in Alibaba and Meta Platforms, while trimming its position in AMD. The purchases by both firms occurred after Alphabet's stock experienced a roughly 4.6% decline over two trading sessions, following its announcement of an $84.75 billion equity offering intended to fund AI infrastructure. Alphabet's stock has seen a 113% increase over the past year, driven by interest in its Gemini AI chatbot and custom chips. Wall Street maintains a Strong Buy consensus on Alphabet, with an average price target of $427.89.