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00:02Berkshire Hathaway has invested more than $900 million in Bending Spoons,
00:06an Italian technology holding company acquiring software businesses at sharply reduced valuations
00:11amid the artificial intelligence boom, according to CNBC. Berkshire disclosed a new $330 million
00:18stake Wednesday, sending Bending Spoons shares up 41%. The company recently acquired Airtable
00:24for $1.3 billion, nearly 90% below its peak valuation, and agreed to buy Miro for $1.36
00:30billion after its valuation previously reached $17.5 billion. Bending Spoons plans to hold its
00:37acquisitions long-term, generate profits, and reinvest in additional deals. Its strategy
00:42includes workforce reductions and subscription price increases. The company reported revenue of
00:47more than $700 million in its first quarterly earnings report following its July NASDAQ debut.
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