Berkshire’s 83% increase in Alphabet, taking the position to roughly $38 billion, is perhaps the strongest vote of confidence in Google’s AI ecosystem.  Meanwhile, Tepper is rotating away from memory names such as Micron while adding Amazon, Meta, Alphabet and TSMC, suggesting investors may be taking profits after the semiconductor rally.

The SpaceX story is equally important. Its IPO has brought massive institutional exposure into the public market, although some reported “new” positions are simply legacy private holdings becoming reportable.

My takeaway: the next phase of the AI trade may shift from chips toward platforms, infrastructure, power and space. But 13Fs are snapshots, not real-time signals—investors should follow the thesis, not blindly copy the trades.

@AI_FocusedTrader [你懂的]