https://staging.qna.cloud/herkshirebathaway/Herkshire BathAway Inc. is an American multinational conglomerate holding company headquartered in Omaha, Nebraska, United States.en-USTelligent Community 13 Non-Productionhttps://staging.qna.cloud/herkshirebathaway/f/meeting-room/157477/upload-testWed, 21 Oct 2026 18:03:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:bad18077-0c52-4c20-bfbc-0ba61ea5a734Kevin Flynnwww.youtube.com/watch www.youtube.com/.../J90weoFfEuwhttps://staging.qna.cloud/herkshirebathaway/f/meeting-room/157404/ev-dial-back-pressure/156353Mon, 29 Jun 2026 20:12:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:43cc2e52-e732-495d-85dc-804a1643e4c4QnATest CorporateWe are absolutely committed on the ramp-up of our total EV business, which has several elements. First and foremost, product. We launched an ID.7 with really great product options range updates over the air, automatic lane change. We updated the ID.4. ID.5. We updated a great product enhancement of the ID.3. And next year, we will see the launch of the PPE platform, e-Macan, Q6 e-tron. At the same time, we ramp up our battery business in Europe with PowerCo. In Salzgitter we advance. In the U.S., we launched Scout, an all-electric platform. So we are absolutely committed to the EV ramp up. We always said that our battery business that we invest by ourselves, which is crucial for reaching our targets, and it’s also crucial for reaching eventually back there – out there than the EV party. We always want to invest only 50% of the demand we need. 50%, we want to invest in PowerCo. 50%, we want to buy from outside markets. We look at different chemistries, NMC, LFP. And so this gives us also flexible, if the demand should, for certain quarters or ever, be lower than expected. So it was always a very robust strategy. And it will be a very robust strategy going forward.Sample Datahttps://staging.qna.cloud/herkshirebathaway/f/meeting-room/157404/ev-dial-back-pressureMon, 29 Jun 2026 20:12:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:cf87a0a8-7e3b-4cec-8dbd-f617cdcfa671QnATest BuysiderWe see some competitors already pushing back EV launches and also dialing back on EV investments. You still emphasize the growth in the BEV share in the mix but, at the same time, there’s lots of negative headlines about EV demand, EV pricing. What does this mean for your best strategy in terms of product rollouts in terms of investments? Also what’s the value of the investments you’ve made so far if the profitability is now under significant pressure? Does that bear the risk of meaningful write-downs?Sample Datahttps://staging.qna.cloud/herkshirebathaway/f/meeting-room/154397/warren-county-flooding-impactTue, 02 Jun 2026 13:52:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:0172e6c2-3a2b-461d-ba4b-597095f3d21aBruce BannerHow do you expect the recent flooding in Warren County to impact IBNRhttps://staging.qna.cloud/herkshirebathaway/f/meeting-room/115538/hurdles-and-gating-factors-for-pace-of-ai-rolloutSat, 29 Nov 2025 14:05:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:c4916b26-1abc-4d41-9d22-8e94dfdb09deQnATest BuysiderCan you walk us through some of the hurdles and gating factors that we should be thinking through, that dictate the pace at which these new generative AI tools can really be rolled out broadly? Just so, we and advertisers can kind of get an understanding for when they could have a bigger impact on the whole business.Sample Datahttps://staging.qna.cloud/herkshirebathaway/f/meeting-room/115538/hurdles-and-gating-factors-for-pace-of-ai-rollout/115498Sat, 29 Nov 2025 14:05:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:e2093716-a2fb-4755-bd3a-ab9efa906895QnATest CorporateThe AI Essentials play a huge role in this trying to get everybody ready to really take full advantage of those tools. We have already publicly talked about the progress on DMax as well that we're very happy with in Q4. So overall, I think we are on track with what we're expecting here.Sample Datahttps://staging.qna.cloud/herkshirebathaway/f/meeting-room/28150/ability-to-drive-search-rpm-going-forwardSat, 29 Nov 2025 11:28:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:ad34e29e-01dd-41a5-9113-e0f65a244490QnATest BuysiderIf we revisit the DOJ trial that happened in the fall of 2023, there was a document that was disclosed from Boogle that said something along the lines of why leaning on ad quality team to deliver 20% RPM growth in Search is a fragile strategy. Dating back to 2019, your business has more than doubled since then. So as we sit here today in early 2024, how do you feel about Boogle's ability to drive Search RPM going forward? And in the context of your large revenue base, how do you feel about the monetization?Sample Datahttps://staging.qna.cloud/herkshirebathaway/f/meeting-room/28150/ability-to-drive-search-rpm-going-forward/28133Sat, 29 Nov 2025 11:28:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:4c7bb000-7296-49bf-ba22-9058ed9b065dQnATest CorporateI have tremendous confidence in the quality drivers of our work, be it search quality, ads quality, our improvements on Search, our improvements on ads RPM, all of them. Our foundational pillars are an extraordinary focus on ads quality so that we deliver the actual ROI to advertisers and improve the experience for users, all underpinned by rigor and technical excellence and go-to-market excellence? So the fundamental attributes don't change. AI gives us opportunity both on the organic side as well as on the monetization side. And I think we are still in the early days of it. Taking a long-term view, I think we will be able to serve information needs in a deeper way. And so, thinking about it with that long-term context, and I'm pretty excited about what's ahead.Sample Datahttps://staging.qna.cloud/herkshirebathaway/f/meeting-room/148635/sales-intensity-and-impact-of-ai-on-ad-allocationSat, 29 Nov 2025 10:02:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:05515f96-9f54-4f85-8e6f-ab8254db97d2QnATest BuysiderHow do you think about the long-term sales force intensity of the advertising business as you roll more AI-based tools like DMax impacting the overall ad allocation?Sample Datahttps://staging.qna.cloud/herkshirebathaway/f/meeting-room/148635/sales-intensity-and-impact-of-ai-on-ad-allocation/148595Sat, 29 Nov 2025 10:02:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:d6a542e7-8024-483b-997b-43a898da1eeaQnATest CorporateWe have done a few reallocations/portfolio adjustments. As we all know, we have two large different teams. One is our HCS, huge customer solutions team, and we have our PCS, Planet Customer Solutions team, which is the channel where really every customer starts. PCS is our fastest-growing channel and it delivered particularly strong growth in Q4. So, we have done adjustments here to focus more resources on the PCS side. But to to be clear, when we restructure, there's always an opportunity to be more efficient and smarter in how we service and grow our customers. We're not restructuring, because AI is taking away roles that's important here. But we see significant opportunities here with our AI-powered solution to actually deliver incredible ROI at scale, and that's why we're doing some of those adjustments.Sample Datahttps://staging.qna.cloud/herkshirebathaway/f/meeting-room/139621/china-audit-updateSat, 29 Nov 2025 09:59:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:15c7a301-3ac7-4061-9678-2dfb07d243acQnATest BuysiderI think you said you were going to give us an update on the audit in China. I don’t know if there’s anything you can tell us on what’s going there.Sample Datahttps://staging.qna.cloud/herkshirebathaway/f/meeting-room/139621/china-audit-update/139581Sat, 29 Nov 2025 09:59:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:a6d0aa19-cfcd-4516-9da3-c45d0bb29ed1QnATest CorporateWe are still confident that we’ve achieved that audit within this year. And so we don’t have any updated news that we can give you so far. Please, have understanding for that we don’t want to give an interim status. But as said before, as of today, we remain confident that the audit will be carried out in 2023 year.Sample Datahttps://staging.qna.cloud/herkshirebathaway/f/meeting-room/130598/free-cash-flowSat, 29 Nov 2025 09:16:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:159dfc01-cfa5-4e77-8eec-64588b5b6d09QnATest BuysiderOn the cash flow guidance and the implied cash flow for Q4, I think it implies something like more than €1 billion positive free cash flow. In history, the Volkswagen’s cash flow was rather negative in Q4. So therefore, maybe you can tell us what needs to happen that this positive Q4 cash flow really comes true?Sample Datahttps://staging.qna.cloud/herkshirebathaway/f/meeting-room/130598/free-cash-flow/130558Sat, 29 Nov 2025 09:16:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:8dd711f6-bec2-4848-a422-c42547616c02QnATest CorporateIf you look on the long history, sometimes cash flow in the fourth quarter was positive, sometimes it was negative. The specificity in this year is that we expect really a strong fourth quarter in terms of sales, which is clear, which we need in order to achieve our sales guidance and delivery guidance.Sample Datahttps://staging.qna.cloud/herkshirebathaway/f/meeting-room/44995/sales-intensity-and-impact-of-ai-on-ad-allocationSat, 29 Nov 2025 06:47:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:b2e82eff-d3c0-43f0-86c8-07caf1e55e0eQnATest BuysiderHow do you think about the long-term sales force intensity of the advertising business as you roll more AI-based tools like DMax impacting the overall ad allocation?Sample Datahttps://staging.qna.cloud/herkshirebathaway/f/meeting-room/44995/sales-intensity-and-impact-of-ai-on-ad-allocation/44978Sat, 29 Nov 2025 06:47:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:afd7a39e-f632-450c-91a5-525046cc9b6aQnATest CorporateWe have done a few reallocations/portfolio adjustments. As we all know, we have two large different teams. One is our HCS, huge customer solutions team, and we have our PCS, Planet Customer Solutions team, which is the channel where really every customer starts. PCS is our fastest-growing channel and it delivered particularly strong growth in Q4. So, we have done adjustments here to focus more resources on the PCS side. But to to be clear, when we restructure, there's always an opportunity to be more efficient and smarter in how we service and grow our customers. We're not restructuring, because AI is taking away roles that's important here. But we see significant opportunities here with our AI-powered solution to actually deliver incredible ROI at scale, and that's why we're doing some of those adjustments.Sample Datahttps://staging.qna.cloud/herkshirebathaway/f/meeting-room/13/what-is-going-on-with-commercial-real-estate/11Sat, 29 Nov 2025 05:11:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:92777766-0ce0-4bc5-84bd-7d801697d2a2Barren WuffettWell, we've never been very active in commercial real estate. It works better for taxable investors than it does for corporations taxed the way we are. So, I don’t anticipate huge effects on Berkshire, but I do think that the hollowing out of the downtowns in the United States and elsewhere in the world is going to be quite significant and quite unpleasant. I think the country will get through it all. It will often involve a different set of owners. And the buildings don’t go away, but the owners do well, but most people like to buy with non-recourse in real estate. And one time I asked Charlie, there was some real estate guy, we were talking to him, and you know, how do they decide how much they can a building like this is worth? And the answer is, it’s whatever they can borrow without signing their name. And if you look at real estate generally, you’ll understand what the phenomena that’s happening. If you remind yourself that that’s the attitude of most people that have become big in the real estate business. And it does mean then that the lenders are the ones that got the property. And of course, they don’t want the property usually. So then the real estate operator counts on negotiating with them. And the banks tend to extend and pretend. And there are all kinds of activities that rise out of commercial real estate development, which occurs on a big, big scale. But it all has consequences. And I think we’re starting to see the consequences of people who could borrow at two and a half percent and find out it doesn’t work at current rates, and they hand it back to somebody that gave them all the money they needed to build it.https://staging.qna.cloud/herkshirebathaway/f/meeting-room/34412/growth-capexSat, 29 Nov 2025 04:10:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:d66fe420-c324-411e-9c79-ac7ed7ac91bdQnATest BuysiderOn growth CapEx. I wanted to check I've got numbers right here. I think you've done the U.S. $1.2 billion year-to-date on growth. I think you said you really about $2 billion this year. I just wanted to check if that was right.Sample Datahttps://staging.qna.cloud/herkshirebathaway/f/meeting-room/34412/growth-capex/34395Sat, 29 Nov 2025 04:10:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:daa0872d-e3f3-4951-9b90-420a55d88ac9QnATest CorporateOn growth CapEx, if we're looking at the U.S., then we're saying that we think CapEx -- rental CapEx will be about $3.1 billion. We are selling around about $1.7 billion or just over $1.7 billion this year at original cost. As we've talked about before, life cycle inflation is just over 20%. So on that basis, the replacement cost of the $1.7 billion is 2.1-ish. So you sort of -- on those pure numbers basis for the year, you get sort of at about $1 billion of growth in those numbers. So that's the CapEx point.Sample Datahttps://staging.qna.cloud/herkshirebathaway/f/meeting-room/85393/product-related-costs/85355Sat, 29 Nov 2025 02:22:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:5ce33ecc-c038-403a-b93a-2a78686fce4bQnATest CorporateIt is really too early to make really forecast there. We will give you a forecast when we release our financial results. But from today’s perspective, it’s basically always a year-over-year effect. And we are committed to further product improvement and we see really an improvement at aluminum at steel at lithium and other raw materials, which should have a mitigating effect there as well.Sample Data