At the 2025 Analyst Conference held on November 28, Dan Bin, founder and chairman of Oriental Harbor, delivered a keynote speech discussing investment opportunities in the tech sector.

Dan Bin highlighted that when it comes to investing in companies comparable to Alphabet (Google), only two Chinese firms stand out: Alibaba and ByteDance. He noted that Tencent has somewhat fallen behind in this race. Specifically, from the perspective of TPU and GPU capabilities, Alibaba may be the sole domestic contender. This quarter, many investors familiar with the Chinese market have added Alibaba to their portfolios.

He further emphasized that AI competition is likely to evolve into a more monopolistic business model. The trends observed in internet and mobile internet industries show increasing market concentration. With advancements in AI and intelligent agents, a handful of companies could dominate globally, achieving valuations beyond imagination. Dan Bin speculated that NVIDIA’s market cap might surpass $10 trillion, and Alphabet could similarly soar to that level.

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