Enrique Abeyta:

Buffett’s Berkshire Totally Exits Its Profitable Stake in Chinese EV Maker Bought Because of Munger

A spokesperson from Berkshire Hathaway confirmed that the holding company has completely exited its extremely profitable equity investment in the Chinese electric vehicle maker BYD. In August 2022, Berkshire began to steadily reduce the 225 million share position it had purchased in 2008 for $230 million.

Berkshire made its initial purchase 17 years ago at the urging of Charlie Munger. At the 2009 annual meeting, he told shareholders that even though it looked like “Warren [Buffett] and I have gone crazy,” he saw the company and its CEO, Wang Chuanfu, as a “damn miracle.”

It was an incredible call. BYD shares increased by roughly 3890% during the years Berkshire owned them.

Buffett has not explained in detail why Berkshire started selling, but, in 2023, he said that BYD is an “extraordinary company” being run by an “extraordinary person,” but “I think that we’ll find things to do with the money that I’ll feel better about.”

Around the same time, Berkshire sold almost all of the company’s Taiwan Semiconductor stake, roughly $4 billion of stock, just months after the shares were purchased as he “reevaluated” the geopolitical risk posed by Beijing’s claim that Taiwan is part of China. 

“It’s a dangerous world,” he said.

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Chris Campbell:

2026: Blackouts, Burnouts, and Breakthroughs

Back in 2020, only about 4.4% of U.S. electricity went to AI. By 2028, the Department of Energy projects that figure will explode to 12% — roughly 508 terawatt-hours. But by 2026, Gartner estimates that 40% of AI data centers could simply run out of juice.

Meanwhile, recent studies reveal that, around the world, anywhere from 5–30% of electricity generation is wasted at any given time because it can’t be stored or transmitted. 

Distributed AI training (DAING) fixes all of this by following the surplus power…

DAING is exactly what it sounds like: Workloads moving fluidly across the country (and globe), following the cheapest and cleanest power in real time. The compute market becomes a living, breathing organism that follows the cheapest, cleanest power in real time — turning the U.S. itself into an energy-aware AI engine.

With the rise of AI and crypto, it’s not only possible, it's already happening.

Back of the napkin math suggests the U.S. alone could use DAING to reclaim 150 to 325 terawatt-hours annually — enough to cover up to 45% of domestic AI demand without building a single new plant.

Without it, we’re stuck with brittle grids, centralized chokepoints, and trillion-dollar vulnerabilities.

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Davis Wilson:

New Rout in Bitcoin Ripples Through Crypto World Today

Nearly all crypto assets are seeing red on Monday morning, with the total market capitalization for all crypto assets falling below $4 trillion since Sunday evening. Bitcoin (BTC) fell 3%. The second-largest cryptocurrency, ether (ETH), fell 6%. Solana’s (SOL) token is down 7%. Dogecoin (DOGE) and World Liberty Financial (WLF) are each down 10%.

Over Sunday night, a total of $1.7 billion in trading positions in the crypto derivatives market were liquidated, according to data provider Coinglass. Of those positions, 94% came from bullish trades with the single largest whip out — valued at $12.7 million — occurring on crypto exchange OKX.

Traders taking bullish bets on ether have seen over $500 million in liquidations while those gambling on bitcoin have seen $280 million taken out, according to Coinglass.

Crypto assets sold off last week following the Federal Reserve’s well-telegraphed signal that it would lower its short-term policy rate by a quarter of a percentage point.

Elsewhere in the crypto world, Michael Saylor's bitcoin treasury company Strategy's stock (MSTR) is down 1.3%. Stablecoin company Circle's (CRCL) stock fell 5% on Monday. Blockchain lender Figure (FIGR) fell 4%. Crypto exchanges Bullish (BLSH) and Gemini (GEMI) are down 7% and 4%, respectively.

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