Warren Buffett's Berkshire Hathaway Reveals $4 Billion Stake in Major Tech Company — and Shares Are Skyrocketing The investment gives Berkshire Hathaway an approximately 11.4% stake in the multinational information technology company.
Warren Buffett's Berkshire Hathaway disclosed on Wednesday that it has purchased almost 121 million shares of HP Inc., per Reuters. The investment gives Berkshire Hathaway an approximately 11.4% stake in the multinational information technology company, valued at about $4.2 billion, and has already sent HP's stock soaring — up nearly 17% as of this morning.
Despite a February 26 annual letter to shareholders in which Buffett stated that "internal opportunities deliver far better returns than acquisitions," and that little excites him and vice chairman Charlie Munger in equity markets, Berkshire's HP purchase is its most recent in a series of major investments.
On March 21, Berkshire agreed to buy insurance company Alleghany Corporation for $11.6 billion in cash — Buffett's biggest deal in years — and earlier that month, the conglomerate announced a 14.6% stake in Occidental Petroleum, worth upwards of $6 billion.
Historically, Buffett has cautioned against investing in heavy-hitting tech stocks, but that's changed over the years. Today, Berkshire's stake in Apple makes up more than 40% of its equity portfolio, and Buffett has called the iPhone-maker one of the "Big Four" companies contributing to the conglomerate's staggering market cap of $757 billion.
Berkshire Hathaway is the seventh-most-valuable company in the world, per data from CompaniesMarketCap, with Class A shares trading at $514,000 and Class B shares at $342.57 as of 10:30 a.m. ET.