A few weeks ago I published a note saying there is almost no reason to own Berkshire Hathaway. I was wrong & here’s the correction:
Berkshire Hathaway Energy is better positioned than I assumed. In Iowa, data centers already account for about 8% of MidAmerican’s load. Greg Abel has said energy is the constraint on further AI infrastructure build-out. The utilities operate in Nevada through NV Energy and across parts of the West through PacifiCorp. These are regulated businesses. When they deploy capital to serve new load and receive regulatory approval, they earn a return on that capital for decades.