Google’s founders, Larry Page and Sergey Brin, paid tribute to Warren Buffett in their 21-year-old IPO prospectus. Now, Berkshire Hathaway, Buffett’s firm, is revealing a $4.3 billion stake in Google’s parent company, Alphabet, marking a significant tech investment and boosting Alphabet shares by 3%.

Buffett, known for avoiding high-growth tech companies, is making a rare move with Berkshire’s stake in Google. This marks the first time the firm has been publically associated with Google. Alphabet’s shares have surged 50% this year, with a $100 billion revenue quarter and a growing cloud division setting it apart in AI services.

Despite missing out on investing in Google earlier, Buffett’s admiration for the tech giant is clear. Alphabet’s valuation remains lower than many AI peers, trading at about 26 times next year’s earnings. Meanwhile, founders Page and Brin rank seventh and eighth on Forbes’ billionaires list, closely trailing Buffett at sixth.

In a nod to Buffett, Google’s founders cited Berkshire’s dual-class stock structure as a successful model, emphasizing long-term interests over quarterly results. Media companies like The New York Times and the Washington Post have also implemented this structure. Buffett’s investment in Google highlights his evolving stance on technology companies.

Read more at CNBC: Buffett Google bet 2 decades after billionaire inspired search IPO