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Berkshire Hathaway will invest in cloud computing firm Snowflake

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As Snowflake prepares to go public with its upcoming IPO, Warren Buffett's holding company Berkshire Hathaway has revealed its pans to invest more than $750 million in to the cloud computing firm.

As first reported by The Financial Times, the firm's updated IPO filing valued the company at $23.7bn and Berkshire Hathaway plans to buy $250m in shares directly from the company at the time of its IPO. At the same time though, Buffett's holding company will also buy another block of shares worth more than $320m from one of Snowflake's investors.

Snowflake, which calls itself “The Cloud Data Platform”, aims to change the way that businesses approach data lakes, analytics and data warehousing. The company was started back in 2012 and it already has some big name customers that use its cloud data services including Sony, Adobe, Capital One and others.

Through its IPO, Snowflake expects to raise $3.24bn by pricing shares at $75 to $85 each. The investment and blessing by Warren Buffett will likely help increase the company's share price though.

Snowflake IPO

The fact that Warren Buffett plans to invest in Snowflake is quite surprising as he rarely invests in the enterprise technology market. The last time he did so was back in November of 2011 when Berkshire Hathaway purchased a 5.4 percent stake in IBM for over $10bn. Unfortunately for Buffett, this investment didn't pay off and he ended up selling his stake in IBM in 2018 in order to make a much bigger investment in Apple.

According to IPO documents filed with the US Securities and Exchange Commission (SEC), Snowflake aims to pioneer an ecosystem in which customers and partners “can break down data silos and derive value from rapidly growing data sets in secure, governed and compliant ways”. Essentially the firm wants to help businesses get the most value from the data they already store in data lakes and warehouses.

Despite Snowflake's ambitious plans for the future, the company still operates at a loss and in this year alone, its net loss until the end of July was $171.3m while last year the firm had a net loss of $348.5m. Despite these losses, sales are growing and Snowflake's sales reached $242m during the first half of this year which is almost more than the $265m in sales it brought in last year.

Snowflake's IPO is set to take place either at the end of September or during October and we'll just have to wait and see whether Buffett's investment in the cloud computing company pays off.

Via PYMNTS

Date

10 Sep 2020

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    That's where we come in. We're rounding up all the best cheap Chromebook deals right here and also showing you which ones are worth their salt. We're running through all their key specs, how you should expect to use these machines, and who should take advantage of the great Chromebook prices on offer. 

    We're also bringing you the lowest prices from all around the web, which means you can easily pick up the best Chromebook deal around without having to crawl through every retailer site. That should make things especially easy once the deluge of tech deals arrives for Black Friday 2021.

    So, whether you're looking for an everyday machine for browsing the web (in which case aim to spend between $200 and $350), or something with more power for a streamlined, browser based approach to work (which might set you back $400 and up), we're showing you just which models fit the bill perfectly. We're also tracking all the best cheap laptop deals and sales right here on TechRadar if you do want to run Windows.

    Plus, you may find additional savings up for grabs over the coming weeks in the best Black Friday Chromebook deals.

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    Lenovo 14-inch Chromebook: $239 $159 at Walmart
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    – The 32GB hard drive in this cheap Lenovo Chromebook means you'll be best utilising the extra storage from the cloud and microSD card slot for most of your files. The MediaTek processor is an unusual step away from mainstays Intel and AMD that you would see in more premium models. However, you do get 4GB RAM and up to 10 hours of battery life with this Chromebook making it great value for money for a basic machine.

    HP 14-inch Chromebook: $309.99 $174.99 at Amazon
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    – For slightly more than our cheapest pick you can bump up to a Intel Celeron N4000 processor that will be more capable of multitasking and more demanding jobs. Apart from that the spec is much the same with 4GB RAM and a 32GB eMMC hard drive, which is about what you expect for the price. There's also a healthy 13.5 hours battery life that makes it a great pick for students.

    HP x360 14-inch 2-in-1 Chromebook: $379 $338 at Walmart
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    Samsung Galaxy 13.3-inch 2-in-1 4K Chromebook $999.99 $699.99 at Amazon
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    – If you'd prefer a more premium model that'll handle just about any work tasks with ease then you can't get much better than this Samsung Galaxy 4K Chromebook while it's been given its biggest discount yet at Amazon. It comes with a powerful Intel i5 processor, 8GB RAM and 256GB SSD storage – all very top-end specs at this price point. Plus, the added 2-in-1 functionality is a nice touch to round out a lengthy feature list at a surprisingly low price while there's a $300 reduction.

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    Asus C223NA 11-inch Chromebook: £229.99 £179 at Amazon
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    – If small and mighty is what you're looking for in a Chromebook then this Asus C223NA packs decent performance into its tiny frame for very little money. We've seen it fall a little lower to the £150 mark in the last month but this is still a great price for a very basic Chromebook that includes an Intel Celeron N3350 processor, 4GB RAM and 32GB hard drive.

    Asus C523NA 15.6-inch Chromebook: £299.99 £229 at Amazon
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    Lenovo IdeaPad Flex 5i 13.3-inch 2-in-1 Chromebook + backpack and mouse: £548 £429 at Currys
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    best cheap Chromebook price and deals

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    HP Chromebook 14

    A perfectly balanced Chromebook - the top choice for most

    CPU: Intel Celeron N4000 Series / AMD A4 | Graphics: Intel HD Graphics | RAM: 2GB – 4GB | Screen: 14-inch, HD (1,366 x 768) BrightView | Storage: 16GB – 32GB eMMC

    Excellent keyboard, trackpad
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    This is where you should begin your search for a Chromebook. At 14 inches in screen size and inside an robust frame, the HP Chromebook 14 offers a fine middle ground for the indecisive shopper. With standardized parts inside, this Chromebook can do essentially all its closest rivals can and then some, with its microSD card reader and slew of ports – unlike similarly-priced, tinier Chromebooks. 

    Plus, you'll find a fantastic tactile keyboard and vivid display on here as well - which is surprising as these are usually the first corners to be cut when manufacturers are trying to bring the price down this low. We see Chromebook deals regularly including this model as well, so you'll find an excellent price if you're shopping at the right time. 

    Read our full review: HP Chromebook 14

    The cheap Lenovo Duet Chromebook in laptop mode

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    Lenovo IdeaPad Duet Chromebook

    Perfectly balanced 2-in-1 Chromebook for students

    CPU: MediaTek Helio P60T | Graphics: ARM G72 MP3 800GHz | RAM: 4GB | Screen: 10.1-inch FHD (1920 x 1200) Touchscreen | Storage: 64GB-128GB eMCP

    Lightweight and portable
    Excellent battery life
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    With the Lenovo IdeaPad Duet, you'll be getting a Chromebook that strikes a perfect balance between the portability of a tablet and the functionality of a laptop, all for a terrific bargain price.

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    There are questions about the finicky nature of the keyboard and the trackpad, but these can be easily remedied with a separate keyboard and mouse of your own. Looking past that, it's a great bit of kit if you're a student on a budget, especially when you compare it to similar models that sport a FHD touchscreen and up to 128GB of storage for all your files.

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    Dell Chromebook 11

    A smaller model perfect for kids

    CPU: Intel Celeron N2840 - N4020 | Graphics: Intel HD Graphics | RAM: 2GB – 4GB | Screen: 11.6-inch HD (1366 x 768) touchscreen | Storage: 16GB SSD

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    Small keyboard

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    Google Pixelbook Go

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    CPU: Intel Core 8th Gen m3 - i7 | Graphics: Intel UHD 615 | RAM: 8GB – 16GB | Screen: 13.3-inch FHD (1,920 x 1,080) - 4K UHD (3840x2160) | Storage: 64GB – 256GB SSD

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    2. Precision marketing

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