Buffett says AI giants are ‘playing a game they don’t want to play’ in the AI race, reveals he was behind Berkshire’s $31 billion bet on Google

The Oracle of Omaha is finally investing in tech stocks, and that’s purely because they’ve changed their capex spending model to stay competitive in the AI race. 

“The real question with Google and all of its competitors now, because they’re all laying out hundreds of billions, and… that’s real money,” Warren Buffett told CNBC. “That’s the game they’re playing now. They weren’t playing that game with computer software.”

Buffett, who has long steered clear of technology companies because he didn’t understand them, revealed that he was the one behind Berkshire’s $31 billion investment in Alphabet, not incoming Berkshire CEO Greg Abel.

“I initiated it,” Buffett said. “He’s not doing anything I don’t approve of. We talk all the time.”

Buffett, who admitted, “I...