Berkshire Hathaway stock is a haven again as investors flee AI bloodbath while its own portfolio takes a hit amid reshuffling

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Investors are seeking shelter from the AI storm in Berkshire Hathaway after shares of the conglomerate had lagged the broader market since Warren Buffett announced his departure as CEO last year. Berkshire's class B stock is up 13.6% so far this year, beating the S&P 500's 7.8% gain. The outperformance has come as Wall Street rotates out of once high-flying tech stocks that rode the AI boom. Since Oct. 1 alone, Berkshire stock has soared 14% while the S&P has fallen about 4%. That mirrors other years that saw major market upheaval. Most recently, Berkshire gained 4% in 2022 when the Federal Reserve launched an aggressive rate-hiking campaign that sent the broad market index down 18%.