Why Warren Buffett's $570 million bet on Snowflake is rarer than any unicorn

Warren Buffett.
Getty ImagesWarren Buffett's Berkshire Hathaway plans to invest about $570 million in Snowflake when the cloud-data platform goes public.Berkshire is set to buy about 7 million to 7.4 million shares, giving it a roughly 2.5% stake.The bet is striking because Buffett famously sticks to businesses he understands and has blasted IPOs as a poor value."We like to buy things where nobody's making a dime selling them to us," Buffett said in an interview last year.Visit Business Insider