From Nasdaq: 2024-08-03 05:50:00

Warren Buffett, a master in various industries, admits he lacks understanding of artificial intelligence (AI). However, AI advancements could lead to significant financial gains for him, possibly through Apple’s new generative AI strategy called “Apple Intelligence.”

Buffett believes AI could have both positive and negative impacts, mentioning the potential for scammers to exploit it. Despite his lack of understanding, Berkshire Hathaway’s huge stake in Apple positions him to benefit from AI-powered improvements, potentially boosting iPhone sales and driving revenue growth.

Analysts predict a strong iPhone upgrade cycle powered by AI could increase Apple’s stock price by up to 20%, translating to a significant gain for Buffett’s conglomerate. Even a more conservative estimate of a 10% increase could result in a $17.6 billion gain for Berkshire Hathaway from their Apple holdings.



Read more at Nasdaq: Warren Buffett Doesn’t Understand Artificial Intelligence (AI). But It Could Soon Make Him a Boatload of Money.