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Greg Abel took over as CEO of the $1 trillion organization in early 2026. While Buffett continued to visit the office daily, he indicated he is now ready for a slower pace.
“Recently, I celebrated my 96th birthday with family and friends, including one of my great-grandchildren, who had just turned one. He’s moving a bit faster than I am these days,” Buffett wrote in a letter to shareholders. The billionaire credited Abel with exceeding his “sky-high” expectations, giving him complete confidence in completing the transition.
“The timing is right. I will become chairman emeritus and remain a director. My son, Howard, will succeed me as chairman,” Buffett told investors. “The company is in excellent hands, and I look forward to remaining a shareholder alongside you.”
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Cubeia’s first phase was an open approach to AI. Developers could use it whenever they wanted. Phase two brought structure, with everyone using the same agents and working through the same AI-driven pipeline. That required Cubeia to solve questions around quality, reliability and how agents could work together, while getting employees comfortable with the new way of working. Grenstad believes that work has largely been completed.
“During the hybrid period in Q1, Cubeia solved 259 issues. Once it moved to the AI-driven process, that figure rose to 421 – a 62% increase. Larger projects increased from 17 to 58. So the answer is yes: moving to AI-driven development has increased our output tremendously,” Grenstad says.
But the more important question now is what Cubeia does with that capacity. “Because we’re not spending as much time coding, we’re spending more time on the business: talking about value and understanding the domain,” he says.
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Tabcorp Holdings Limited, one of Australia’s largest wagering and media companies was also fined more than AU$2.7 million earlier this year. ACMA clarified that Tabcorp had violated telemarketing and spam regulations over a 16-month period.
It had sent over 217,000 marketing emails and SMS messages within a 16-day window to customers who had explicitly unsubscribed. ACMA regarded the volume and timing of these messages as significant enough to warrant enforcement action.
In response to the penalties, Dabble Sports has agreed to a two-year court-enforceable undertaking. It has obliged the company to commission an independent review of its compliance systems. Dabble must develop a board-approved plan to implement these changes with appropriate resources.
