Berkshire Reaps AI Boom Gains From 8% Iowa Data-Center Power Load
Updated
Updated · CNN · Sep 19
Berkshire Reaps AI Boom Gains From 8% Iowa Data-Center Power Load
3 articles · Updated · CNN · Sep 19
Summary
Berkshire Hathaway is profiting from the AI infrastructure buildout through long-held utility and industrial assets rather than big bets on pure-play AI stocks.
8% of Berkshire’s Iowa energy load came from data centers last year, CEO Greg Abel said, showing how AI-driven electricity demand is lifting MidAmerican’s business.
MidAmerican, bought in 2000, and NV Energy in Nevada now sit in regions benefiting from rapid data-center expansion as power demand becomes a key AI bottleneck.
Precision Castparts, which forced an $11 billion write-down after Berkshire’s 2016 purchase, is also gaining as gas-turbine demand rises because data centers need more generation equipment.
The gains underscore Warren Buffett’s long-running strategy of owning essential businesses the economy cannot function without, even as Berkshire only selectively added direct AI exposure through Apple and Alphabet.