Greg Abel Just Spent $330 Million on This Tech Stock. Here's What It Means for Investors.

Although former Berkshire Hathaway (NYSE: BRKA) (NYSE: BRKB) CEO and resident stock-picking guru Warren Buffett eventually warmed up to certain kinds of technology stocks, he still never really embraced the higher-risk, higher-priced sliver of this sector's opportunities before stepping back from both roles at the end of last year.

Current Berkshire chief executive Greg Abel, however, isn't quite as averse to the idea as his predecessor was.

That's the top takeaway from a choice he made in July of this year, and then doubled down on in October. Already holding a major stake in technology giant Alphabet, in mid-October, Abel steered another $330 million worth of Berkshire's idle cash into a company called Bending Spoons (NASDAQ: BSP), adding to a $600 million stake Berkshire quietly scooped up as part of its IPO in the middle of this year.

This is definitely not yesteryear's Berkshire Hathaway. And yet Bending Spoons somehow seems like a perfect Berkshire holding.

What's Bending Spoons?

You've probably never heard of the $30 billion company. You're most definitely familiar with some of the digital platforms it owns, though. Ticket-sales website Eventbrite, cloud-based note-taking service Evernote, video-sharing venue Vimeo, and web portal AOL are now some of the brands owned and operated by Bending Spoons.

At first blush, it seems like the patron saint of lost causes. AOL was once one of the internet's go-to navigation options, but it was eventually displaced by Alphabet's Google. Vimeo can't really compete with Alphabet's YouTube either. And to be sure, Google and YouTube aren't in any existential danger.

Bending Spoons doesn't necessarily need to topple its competitors, though, to reward its shareholders. It only needs to identify digital platforms with more potential than is being unlocked, and then acquire those platforms and make those necessary changes.

And it's done so. Since acquiring Evernote back in 2023, it's added over 200 improvements or features, including integrations with AI platforms like Claude and ChatGPT. It's also quintupled the number of users of AI-powered photo-editing app Remini since buying it in 2021. Vimeo is getting better, too, gaining traction as a tool that increasingly caters to enterprises with specific business-oriented needs.

Its customer numbers confirm the company's capabilities as well. There are now over 1 billion registered users of Bending Spoons' digital products, over 400 million of which use its tech at least once per month.

The results speak for themselves

Then there are the fiscal numbers that investors -- and Greg Abel -- really care about.

Yes, as you might have guessed, the company is borrowing and issuing stock to fund its acquisitions. Long-term debt grew from nearly $2.3 billion in mid-2025 to nearly $4.1 billion as of June 2026, and the recent sale of $330 million worth of its shares to Berkshire Hathaway was a dilutive private placement of newly created stock.

It's arguably well worth it, though. Bending Spoons is not only growing like wildfire, but it's also doing so profitably. Its second-quarter top line of $704 million was up 126% year over year, pumping up per-share earnings from $0.11 in Q2 last year to $0.28 for the second quarter of this year. On an adjusted basis, profits improved from $0.17 then to $0.46, on a 150% increase in operating income.

Analysts are calling for 47% revenue growth next year, too, driving earnings growth of 37%, with bottom-line growth of 48% in the cards the year after that. Clearly, the analyst community believes the company understands how to make existing digital products more marketable.

Not Buffett's Berkshire, but that's OK

If nothing else, it's just a very cool story.

Most of the turnaround projects that Bending Spoons has taken on are platforms that have been around for a while, with many of them being well loved by a small group of loyal users. These digital services just could never figure out the right competitive chemistry. Now, with the right tweaks, they're getting their shot.

There's a much more meaningful takeaway for investors than the satisfaction of seeing some digital brands finally getting their day in the sun, though. That's the fact that Greg Abel's Berkshire Hathaway is increasingly looking different from Warren Buffett's. Instead of making a philosophical point of steering clear of technology stocks, it's making a point of seeking out the right opportunities within the sector -- the ones with real, predicable staying power -- even if it means taking on a bit more risk.

Berkshire Hathaway CEO Greg Abel. Image source: Getty Images.

So far, however, Abel hasn't made any investment decisions that would defy Warren Buffett's basic selection standards (even if some of these names aren't picks that Buffett would have made himself). And Bending Spoons is no exception. While not a value stock by any means, priced at only 24 times next year's projected per-share profit of $1.92, there's certainly no valuation concern that would cause Buffett to balk.

If you're a current Bending Spoons shareholder or considering a stake in this stock, of course, there's certainly no greater vote of confidence than being selected to become a part of Berkshire Hathaway's equity portfolio.

James Brumley has positions in Alphabet. The Motley Fool has positions in and recommends Alphabet and Berkshire Hathaway. The Motley Fool has a disclosure policy.