Buffett’s Google bet comes 2 decades after billionaire investor ‘inspired’ search giant’s IPO

Key Points

Warren Buffett’s Berkshire Hathaway revealed late Friday that it owns a $4.3 billion stake in Google parent Alphabet as of the end of the third quarter.
Alphabet shares rallied on Monday and are now up about 50% this year, driven in part by the artificial intelligence boom.
Berkshire’s rare bet on a big internet company comes a little over two decades after Google’s founders said they were “inspired” by Buffett in the company’s IPO prospectus.

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