Good morning and welcome to Markets Desk, your midday read on the stories moving markets and minds.
At Berkshire Hathaway's annual meeting, newly minted CEO Greg Abel made clear that the conglomerate won't be chasing the artificial intelligence wave just because Warren Buffett has stepped aside. Abel signaled a continued commitment to Berkshire's disciplined, value-driven approach, even as the AI boom reshapes capital allocation decisions across Wall Street.
In a moment that drew considerable attention from the Omaha crowd, Buffett himself invited Apple CEO Tim Cook to take a bow during the meeting, crediting Cook's stewardship for turning Berkshire's Apple investment into a position worth one hundred eighty five billion dollars. Berkshire has trimmed that stake in recent quarters, but Buffett's public tribute underscored just how consequential that bet proved to be.
Meanwhile, engineering and construction giant Fluor has completed the full sale of its stake in NuScale Power, cashing out after NuScale's shares surged dramatically over the past year. The exit marks a significant return for Fluor on a nuclear energy bet that many had written off, and it signals continued investor appetite for next-generation nuclear plays as the energy transition accelerates.
That's the tape. Markets Desk, signing off the floor.
