Abel sees significant opportunity in powering data center expansion through Berkshire Energy

CEO Greg Abel outlined plans for Berkshire to become a key energy supplier to data centers, citing energy as a key constraint limiting their expansion. Abel told CNBC that data centers already account for 8% of Berkshire Energy's load in Iowa and the company has received customer requests to help power new facilities. He emphasized that Berkshire would support data center development only where it provides net benefits to existing customers and communities, highlighting Iowa examples where data center facilities have increased tax revenues for schools and local services. This capital deployment represents Abel's strategy to channel Berkshire's 365 billion dollar cash position into the AI infrastructure buildout, complementing the company's 10 billion dollar Alphabet investment.

1. CEO Greg Abel said energy is a key constraint to data center buildout and Berkshire can help address it
2. Data centers accounted for 8% of Berkshire Energy's load in Iowa in 2025
3. Abel said Berkshire has received customer requests for help with data center energy needs
4. Berkshire Energy operates PacifiCorp, MidAmerican Energy Co and NV Energy covering western US and Midwest
5. Abel stated Berkshire is interested in serving hyperscalers potentially including Alphabet
6. Berkshire would only pursue data center partnerships where there is no impact on existing customer rates
7. Berkshire increased Alphabet Class A stake by 45% and Class C stake by 658% in Q2 2026