Warren Buffett has reinforced his conviction in Alphabet, saying the Google parent has a higher probability of becoming an artificial-intelligence winner than 90% to 95% of what Wall Street is selling. Buffett said the decision to buy Alphabet was his own and again called it a mistake that he did not purchase Google when the business was asset-light. Berkshire Hathaway holds an Alphabet stake worth roughly $28.2 billion, according to recent filings. Alphabet's Google Search and other revenue rose 17% year over year to $63.3 billion in the second quarter of 2026, slowing from 19% growth in the previous quarter and narrowly missing Wall Street's $63.4 billion estimate. Google still controls about 90% of the search market, while its Gemini AI model surpassed 1 billion monthly active users by August 2026. Google Cloud revenue surged 82% to $24.8 billion, and segment operating income more than tripled to $8.8 billion. CEO Sundar Pichai raised Alphabet's 2026 capital-spending guidance to $195 billion-$205 billion, after $91 billion in 2025. The company has maintained positive free cash flow of $53 billion over the trailing 12 months, while its price-to-earnings ratio is about 17. Berkshire's Alphabet position contrasts with its sale of Amazon and reductions in Apple and Bank of America. Although search deceleration and heavy AI investment remain risks, cloud growth, Gemini adoption, Waymo's potential and Alphabet's next-generation TPUs support the bullish case.