AI Meltup Is Real: ARM +15.7%, NVDA +6.3%, and Berkshire Just Bet $10B on Google

Let's set the scene: S&P 500 closes higher for an eighth consecutive session near 7,600, $NVDA rips 6.3% on the RTX Spark Superchip announcement, and $ARM closes up 15.7% hitting a new intraday record on the Nvidia partnership — while $INTC and $QCOM get unceremoniously dumped 4.6% and 8% respectively. The PC market just got Nvidia'd, and it shows.

Meanwhile, Warren Buffett apparently decided 'boring value investing' was a 2023 personality. Berkshire is now sitting on over $30 billion in $GOOGL, including a fresh $10 billion private placement as part of Alphabet's $80 billion equity raise to fund AI infrastructure. When the Oracle of Omaha starts cosplaying as a venture capitalist, the market takes notes. Dan Niles on CNBC called agentic AI a 'new demand wave' with token production growing 130% in two months — and still has $NVDA as his largest position. Fundstrat flagged the $2 trillion IPO calendar (SpaceX, Anthropic, OpenAI) as a genuine risk factor for H2, but even that warning came wrapped in a shrug emoji.

If the bull market ever needs a theme song, this week handed it one — somewhere between a standing ovation for $RVMD's pancreatic cancer data and Cisco's CEO describing a 'networking supercycle.' The rotation is real, the breadth is questionable, and the FOMO is fully priced in.