Greg Abel told Berkshire Hathaway shareholders Saturday the conglomerate will deploy artificial intelligence only where it adds clear value, rejecting industry-wide hype.
Abel Sets Narrow AI Course
Abel delivered the message in Omaha on May 2 during his first annual meeting as the successor to Warren Buffett, who stepped down in January.
The new chief executive said AI must improve efficiency, safety, or decision-making before any rollout. He pointed to railroad subsidiary BNSF, where targeted tools are sharpening operations, and to insurance, where the company flags fraud and deepfake threats.
"We're not going to do AI for the sake of AI," Abel told the audience, according to Reuters coverage of the session.
The framing extends Buffett's long-standing skepticism of unproven tech narratives, and contrasts sharply with peers cutting jobs or rebranding around AI.
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Energy Unit Eyes Data-Center Boom
The clearest growth angle came from Berkshire Hathaway Energy. Abel said data centers already account for roughly 8% of peak load in territories like Iowa, near the upper end of the 5% to 10% industry range.
He projected the unit could expand that footprint by 50% over the next five years. Hyperscalers, he insisted, must bear the full cost of the new load.
Berkshire's Class B shares have slumped 12.4% since Abel was named CEO last year, and the cash pile has swelled to nearly $400 billion. Investors are watching whether Abel's discipline holds as AI infrastructure spending accelerates.
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