Warren Buffett’s mysterious bet on Nvidia surpassed the value of its parent company, Google Alphabet

Warren Buffett sold shares in Apple and invested in a mysterious business, while Nvidia rose to third place in the list of the most valuable US companies — these and other important news by the morning of Thursday, February 15th, in our daily roundup.

Warren Buffett’s financial holding company, Berkshire Hathaway, revealed its transactions for the fourth quarter of 2023, according to Form 13-F filed with the US Securities and Exchange Commission (SEC). In the past quarter, the ‘Oracle of Omaha,’ as Buffett is called, reduced its stake in Apple and for the second time in a row requested permission from the regulator not to disclose information about one or more assets in its portfolio.

Nvidia, valued at $1.83 trillion, surpassed its parent company, Google Alphabet, becoming the third most valuable company in the US, Reuters writes. Thanks to the demand for chips associated with the development of artificial intelligence technologies, Nvidia’s shares have risen by 231% over the past 12 months to record highs. For comparison, Alphabet’s market capitalization (NASDAQ: GOOGL) is now valued at $1.82 trillion. Earlier this week, Nvidia also surpassed Amazon in value. Now, the chip manufacturer is only behind Microsoft and Apple among American companies.

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Cisco announced plans to cut 5% of its workforce and eliminate approximately 4,250 jobs, CNBC reports. The company’s shares fell by 5.7% in after-hours trading — Cisco reported strong results for the second quarter of the fiscal year ending January 27 but provided a weak outlook for the next quarter. Technology companies continue to cut expenses following the market downturn that occurred two years ago.

SpaceX (a company engaged in rocket construction and other space projects) changed its state registration from Delaware to Texas. SpaceX CEO Elon Musk announced this on social media X (formerly Twitter, NYSE: TWTR, blocked in Russia). He attached a document of registration from the Texas governor’s office to the post.

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