Berkshire Hathaway shares surged this week, outpacing the S&P 500 as investors shifted money from tech stocks into the conglomerate amid concerns over artificial intelligence spending. The stock closed at record highs three times during the week.
One month ago, Berkshire B shares trailed the S&P 500 by 13.6 percentage points for the year. The company now leads the benchmark by 5.8 percentage points. Investors cited Berkshire's limited exposure to AI and data center investments as a reason for the rotation into the traditional conglomerate.