Berkshire Hathaway CEO Abel stresses technology opportunity at annual meeting

May 2, 2026 - 19:47

Berkshire Hathaway reported a strong jump in first-quarter earnings on Saturday, with operating profits climbing across its major businesses. Speaking at the company's annual shareholder meeting in Omaha, CEO Greg Abel emphasized a growing focus on technology and artificial intelligence as key drivers for the conglomerate's future growth.

Abel, who succeeded Warren Buffett as chief executive, pointed to significant investments in automation and data analytics at Geico, the insurance giant, and at BNSF Railway. He said these tools are helping cut costs, improve customer service, and streamline logistics. "Technology is not just an add-on for us. It is a core opportunity across our entire portfolio," Abel told the crowd.

Berkshire's energy division also saw a boost, with Abel noting that AI-driven grid management and renewable energy projects are opening new revenue streams. The company's cash pile remained massive, nearing $190 billion, but Abel signaled a willingness to deploy capital into tech-focused acquisitions if the right deal emerges.

The meeting drew thousands of shareholders, many of whom were hearing Abel take the lead role for the first time. While Buffett remained on stage for part of the event, Abel's confident tone on innovation marked a shift for the traditionally cautious firm. "We are not chasing hype," Abel said. "But we are absolutely chasing efficiency."