Dan Bin Reduces Holdings in Storage and Intel, Increases Positions in META, SpaceX, and Amazon

On November 6, Dan Bin, chairman of Dongfang Harbor Fund, disclosed on social media that the Dongfang Harbor overseas fund reduced its holdings by 10% in storage and 3% in Intel, while increasing its position in META, keeping nearly 10% of its Intel holdings unchanged. The funds raised through a strategy of selling at double the high are no longer reinvested in hardware but are instead directed towards applications, increasing positions in SpaceX (SPCX) and Amazon, while continuing to hold SK Hynix. Approximately 10% of the fund's size is limited by contracts to invest only in A-shares and Hong Kong stocks, and after heavily investing in the AI industry chain, it has experienced significant pullbacks. Dan Bin expressed optimism about the overall direction of artificial intelligence, including companies in the A-share and Hong Kong stock related industry chains, but did not anticipate such a severe decline. He hopes that the current position is a low point and that the AI bull market will return. He mentioned that with the Democratic Party controlling both houses, environmental reviews for data centers, as well as approvals for water and electricity, may tighten, leading to a slowdown in new computing power supply, which will be more favorable for cloud giants like Google, Amazon, and Microsoft that have secured land, electricity, cabinets, and GPU resources. While high capital expenditures in the short term may suppress free cash flow, if capital expenditures across the industry are forced to be restrained, the pricing power will strengthen, and cash flow is expected to recover.

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