Brad Gerstner, founder and CEO of Altimeter Capital, stated on CNBC that he supports AI safety measures but believes some concerns are exaggerated and aim to advance political agendas. He questioned whether there is coordination and funding behind these "catastrophizing" narratives, hinting at a possible connection to China.

Altimeter Capital's Q2 13F filing shows the fund established new positions in Qualcomm (QCOM) and Micron Technology (MU). As of June 30, Altimeter purchased 1.88 million shares of Qualcomm, valued at approximately $347.9 million, accounting for 3.54% of its U.S. equity portfolio. Concurrently, it bought 209,520 shares of Micron Technology, valued at approximately $241.8 million, representing 2.46% of the portfolio.

Some analysts believe the market still views Qualcomm primarily as a smartphone chip company, overlooking its potential as an AI data center supplier. At its investor day in June 2026, Qualcomm introduced its High Bandwidth Computing (HBC) architecture, designed to address HBM and CoWoS packaging bottlenecks in AI chips. Microsoft and Meta have agreed to use Qualcomm's new AI chips, but HBC technology has yet to undergo large-scale real-world testing.