Warren Buffett’s Berkshire Hathaway revealed a $4.3 billion stake in Alphabet, making it the conglomerate’s 10th largest equity holding. This move is surprising given Buffett’s traditional value investing philosophy. Alphabet’s shares have surged 46% this year, driven by strong demand for artificial intelligence in its cloud business.

Berkshire Hathaway continued trimming its massive Apple stake by 15% in the quarter, bringing it down to $60.7 billion. Despite ongoing sales, Apple remains Berkshire’s largest equity holding. The conglomerate also reduced its holdings in Bank of America, Verisign, and DaVita as valuations in the tech-driven market rose.

With Warren Buffett stepping down as CEO at the end of the year, investors are closely watching Berkshire’s investment decisions for clues about the next era of leadership. Buffett’s investment managers Ted Weschler and Todd Combs are believed to have initiated the stake in Alphabet, showcasing a shift towards high-growth tech names in Berkshire’s portfolio.

Read more at CNBC: Warren Buffett’s Berkshire Hathaway reveals new position in Alphabet