Buffett Flags AI Risks as Berkshire Cash Hits Record $397.3 Billion

Berkshire Hathaway is entering the post-Buffett era under Chief Executive Greg Abel, putting its decentralized operating culture and disciplined capital allocation under fresh scrutiny. Artificial intelligence is emerging as an important test: Berkshire sees scope to improve efficiency across businesses including railroads and insurance, while acknowledging that deepfakes, fraud and automated decision-making create significant risks. The conglomerate says consequential judgments will remain under human control.

At Berkshire’s annual meeting in Omaha on May 2, 2026, Abel presided for the first time as CEO while Chairman Warren Buffett warned that a highly convincing AI-generated version of himself showed why the technology was “scary.” Berkshire ended the first quarter with a record $397.3 billion in cash and short-term holdings after selling a net $8.1 billion of stocks. Operating profit rose 18% from a year earlier to $11.35 billion.