AI Adoption Spreads Beyond Tech as Finance, Manufacturing Businesses Race to Catch Up
U.S. businesses expanded paid AI adoption to record levels in 2026, led by technology, finance and manufacturing firms.
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US business lending hit $2.93 trillion, up 10% year over year, the fastest since March 2023. Bank of America says AI capex is behind it.
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U.S. businesses expanded paid AI adoption to record levels in 2026, led by technology, finance and manufacturing firms.
Greg Abel, who took over as Berkshire Hathaway's CEO on December 31, maintains Warren Buffett's investment philosophy of concentrating assets in best ideas. As of August 28, 63% ($226 billion) of Berkshire's $360 billion portfolio is concentrated in five stocks. Tech stocks now comprise over 30% of the portfolio, driven by significant positions in Apple and Alphabet. Abel has tripled Berkshire's Alphabet position and added $17 billion in Q2. Meanwhile, Berkshire has been reducing its Bank of America stake for eight consecutive quarters due to valuation concerns.
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David Sacks says AI politics is shifting from speed versus caution to open, decentralized systems versus centralized control by major firms.
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