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Buffett Adds to IBM Stake as Rometty Shifts Big Blue to Cloud

Warren Buffett’s Berkshire Hathaway Inc. increased its stake in IBM by 9.2 percent, affirming support for Chief Executive Officer Ginni Rometty as she tries to reignite growth at the technology company.

Berkshire boosted its stake in International Business Machines Corp. -- one of Buffett’s biggest bets -- by 6.5 million shares, the Omaha, Nebraska-based company disclosed in a regulatory filing Tuesday. Berkshire remains IBM’s biggest holder with 76.97 million shares for a 7.8 percent stake, according to data compiled by Bloomberg.