Investing.com -- Warren Buffett criticized the stock market for being increasingly driven by speculative trading rather than long-term investing. The Berkshire Hathaway chairman told CNBC's Becky Quick that finding value has become difficult in the current environment.

"It's tough to find values when everybody is preferring gambling," Buffett said.

The 95-year-old billionaire investor, known for his commitment to value investing, previously compared the stock market to "a church with a casino attached" in May, pointing to the rise in one-day options trading as gambling.

Buffett stated that meaningful investment opportunities have become scarce and require patience and discipline to identify.

"There are times when opportunities are just thrown at you so fast you can't, you know, it's unbelievable," the Berkshire chairman said. "And then there's other times when you're very, very lucky if you find one thing in a couple of years. And it should always be that the the latter is what prevails."

"But since humans love to gamble so much, there's more money in in actually cultivating gamblers than there are cultivating investors," he said.

The stock market has reached all-time highs this year despite challenges including an energy shock from an ongoing war with Iran. Critics have pointed to speculation in stocks related to artificial intelligence, with options and leveraged exchange-traded funds contributing to market activity. Retail traders have been purchasing shares of memory chipmaker Micron and recent IPO SpaceX.