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Berkshire Vice Chairman Greg Abel speaks with shareholders during the Berkshire Hathaway Inc. annual shareholders' meeting

Berkshire Hathaway reports drop in quarterly profit on insurance operations weakness

By Auzinea Bacon, CNN (CNN) — Berkshire Hathaway (BRK.B), which wrapped up its final year under Warren Buffett’s leadership, reported Saturday that operating earnings for the fourth quarter totaled $10.2 billion, down 29.8% from last year, on weakness from its insurance business. Last year’s operating earnings totaled about $44.5 billion, down 6% from the previous

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AI is gobbling up the world’s memory chips, sending smartphone prices to record highs, report says

By Stephanie Yang and Wayne Chang, CNN Taipei, Taiwan (CNN) — A global shortage in memory chips sparked by artificial intelligence has dealt a “tsunami-like shock” to the smartphone industry, pushing prices to all-time highs, according to a new report. A worsening shortfall of memory components is expected to put phone manufacturers out of business

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