Although it is agreed that the current financial markets (especially some tech investment markets) have the strongest gambler's mentality ever, Berkshire's fund seems inevitably and continuously surpassed by tech and semiconductor companies before a crash. Besides this, investors have recently been discussing buying shovels to dig for gold, and even Google, which also makes simple gold-digging tools, might soon surpass Nvidia to become the global market cap king. In fact, Google has long been the profit king, but the market has always been concerned about Google's slowing revenue growth and its advertising business being replaced by AI search🔍.

The next focus is when TSMC can surpass Amazon to enter the top 5 global market cap companies (however, this market cap is estimated based on US ADR prices, and the market cap calculated using Taiwan stock prices differs by nearly 14%). TSMC's fundamentals are like the Buddha's Palm; no customer can escape its grasp. However, geopolitics, large-scale expansion in the US dragging down gross profit margins, and continuous selling pressure from foreign investors remain concerns.

Finally, if Tesla, whose market cap remains in the top 10 relying on its 'price-to-dream' ratio and faith, cannot accelerate Cybercab operations and FSD subscriptions, as well as accelerate mass production of Optimus 3, being surpassed by other companies seems inevitable. SpaceX might even kick Tesla out of the top 10 once it goes public.

Outside the top 10, there are of course some companies whose rankings have been rapidly rising, such as Samsung, SK Hynix, Micron, AMD, and Intel. However, for memory storage companies, it remains to be seen whether subsequent price increases can be sustained, or if they will expand production to grab market share (which is relatively negative). Intel's market cap has recently grown rapidly, exceeding $500 billion, closely trailing AMD's $587.8 billion. But currently, no matter how you look at it, AMD still has an edge with its AI training, inference, Agentic AI product lines, and TSMC's production capacity support. What do you think?