Posted 2/1/2024, 10:15:00 AM
Berkshire Bets $1.2B on Snowflake's Vital Role in AI Data Revolution
- Warren Buffett's Berkshire Hathaway owns a $1.2B stake in Snowflake, a data cloud platform company
- Snowflake plays a vital role in AI by helping companies organize, store, and analyze the huge amounts of data needed to train AI models
- The world is creating exponentially more data every year, presenting a huge long-term growth opportunity for Snowflake
- Snowflake has strong financials - $2.6B in revenue, 24% free cash flow margins, 61% expected earnings growth
- The stock trades at a very high valuation today based on future growth expectations, but could prove to be an exceptional long-term investment if held for many years