Donald Trump Says Bitcoin Will Likely Overtake Gold (Live at Bitcoin 2024)

In the second quarter, Berkshire Hathaway's holdings in the two classes of Alphabet, Google's parent company, increased by more than $17 billion in total market value. Among them, Class C shares rose more than sixfold from the first quarter, making it into the top ten holdings for the first time, while Class A shares increased by 45% and became the fourth-largest holding. The stake in Delta Air Lines, a new position in the first quarter, was increased by 44%, with an additional $2.6 billion in market value. The holding in real estate stock Lennar grew by 25%. Meanwhile, Berkshire further reduced its position in Bank of America, with a decrease of $1.72 billion in market value for the quarter; Capital One, a financial stock, was cut by 58%, and the holding in steel company Nucor was halved. Apple remained the top holding, with the position unchanged for two consecutive quarters.

According to estimates by Bank of America, Broadcom’s chip financing projects could result in approximately $370 billion in senior debt by mid-2029, providing funding for 20GW of computing power, with around $150 billion in new debt potentially being added in 2027 alone. While Bank of America does not question Broadcom’s business fundamentals, the market is beginning to realize that if future AI computing power demand increasingly depends on massive financing platforms, the valuation logic of the AI industry chain must also simultaneously consider asset residual value, customer default rates, debt costs, and supplier guarantee obligations.