HP Inc (NYSE:HPQ) shares rose nearly 15% overnight after Berkshire Hathaway bought more than US$4.2bn of shares in the printer and computer maker.
Warren Buffett’s investment giant picked up more than 11% in HP last week, across multiple transactions at prices ranging from US$35.7400 to US$36.6775 per share.
The investment group now owns nearly 121mln HP shares, giving it an 11.5% stake in the company, according to a filing to the Securities and Exchange Commission.
On Thursday, the first day of trading since Berkshire Hathaway's acquisitions were disclosed, the stock price rose more than US$5 to close at US$40.06.
Buffett has long avoided investing in tech companies, claiming it is too difficult to pick winners in the long-term. Yet he has taken a large stake in Apple in recent years, to now hold more than 5.6%.
HP is now Berkshire's second-largest tech holding after Apple following the recent acquisition.
Apart from the high-tech investments in Apple, HP and EV maker BYD, Berkshire's US$351bn portfolio includes major stakes in American Express, US Bancorp and Moody's.