Berkshire Hathaway increased its stake in Amazon 11 percent in the second quarter, according to multiple news reports.
Its shares are valued between $947 million, according to CNBC, and more than $1 billion, according to Bloomberg.
Bloomberg notes Berkshire's investment in Amazon is still minor compared to its stake in Apple, which is valued at $49 billion.
The increased stake in Amazon suggests Berkshire Hathaway has confidence the tech giant has more growth ahead, according to CNBC. Berkshire Hathaway CEO Warren Buffett told CNBC in 2018 he "had no idea that [Amazon] had the potential," and he missed his chance to invest. The company first invested in Amazon in May, according to CNBC.
Berkshire Hathaway and Amazon have been working with JPMorgan Chase on a healthcare venture called Haven since January 2018.
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