Berkshire Hathaway is increasing its investment in Italian technology company Bending Spoons, committing about $330 million for a 4% stake. Bending Spoons shares surged 39% in heavy trading after the deal was announced, as the company said it plans to use the proceeds for acquisitions.
On October 14, Bending Spoons said it would issue Berkshire 10 million ordinary shares at $33 each. After the transaction closes, Berkshire's ownership will rise to 4%.
Bending Spoons shares rose as much as 39% in Wednesday's U.S. session, closing at $52.86. Berkshire Hathaway Class B shares gained 0.2% to $521.55.
New capital earmarked for acquisitions
Bending Spoons said it will use the additional funds for future acquisitions it considers attractive. The company has expanded by buying established digital businesses, including AOL, Eventbrite and Vimeo.
This is Berkshire's second investment in Bending Spoons. It invested $600 million in the company's initial public offering in July. The latest private placement increases Berkshire's ownership while providing Bending Spoons with more capital for its acquisition strategy.
The company targets mature digital assets, including businesses facing operational pressure, and seeks to improve cash flow by changing how they are run. The market's immediate response was reflected in the sharp move in BSP shares. The targets and prices of any future deals, as well as the results of integrating acquired businesses, remain unknown.
A shared focus on capital allocation
Bending Spoons' approach has drawn comparisons with Berkshire's long-standing strategy of acquiring established or underperforming businesses and improving their operations to generate sustained cash flow.
The companies differ in their areas of focus. Berkshire has traditionally concentrated on sectors such as insurance, railroads, energy and consumer goods, while Bending Spoons has built its portfolio around software and internet businesses. Technology-related assets have become more prominent in Berkshire's investment mix in recent years.
Bending Spoons CEO and co-founder Luca Ferrari said Berkshire had been one of the world's leading and most respected capital allocators for decades, and a company his firm had long studied and learned from.
Investment comes during Berkshire leadership transition
The deal comes as Berkshire changes leadership. Warren Buffett stepped down as chairman last month, and Greg Abel took over as chairman and CEO. Abel is still within the first 10 months of his new role. The Bending Spoons investment is among the latest moves to add to Berkshire's technology exposure during the transition.
Berkshire Class B shares have risen on every trading day in October, following a difficult stretch for the stock in 2026. Its relative strength rating is 69, up from 57 four weeks earlier. The stock's flat-base buy point is $537.74, with an earlier entry level at $523.74.
Bending Spoons shares have been far more volatile. The stock's 21-day average true range (ATR) is 7.26%, above the 5% level often used to distinguish higher from lower daily volatility. The 39% gain on heavy volume shows how quickly the investment news shifted trading expectations; the stock's price swings remain substantially larger than Berkshire's.