As investors fret over whether high-flying technology stocks are now too frothy, the recent volatility is not scaring away Warren Buffett’s Berkshire Hathaway — at least not when it comes to getting in on the ground floor of what may be one of the year’s most sought-after tech IPOs. Yes, you read that correctly.
Snowflake, a fast-growing cloud-software and data-warehousing company, filed an amended offering prospectus on Tuesday that revealed Berkshire will buy roughly $250m of Snowflake shares at its IPO price and an additional 4-million shares from another stockholder. The two transactions add up to a roughly $600m overall stake in the company if it goes public at the assumed price of $80 per share, the midpoint of the $75 to $85 current range...
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