Billionaires Are Selling Nvidia Stock and Buying 2 Supercharged Artificial Intelligence (AI) Stocks Instead
Why are billionaires selling Nvidia stock?
Billionaires are selling Nvidia stock due to concerns about its valuation and potential competition. They believe that the company's surge has run out of steam and are taking the opportunity to lock in their profits. Additionally, some investors are shifting their focus to other AI stocks with stronger growth potential, such as Palantir Technologies and Super Micro Computer.
What AI stocks are billionaires buying instead of Nvidia?
Billionaires are selling Nvidia stock and buying Palantir Technologies and Super Micro Computer, two supercharged AI stocks. Palantir specializes in data analytics and has introduced its Artificial Intelligence Platform (AIP). Super Micro Computer designs high-performance computing platforms for enterprise and cloud data centers and is the market leader in AI servers.
How much did Louis Bacon reduce his Nvidia stake?
Louis Bacon of Moore Capital Management reduced his Nvidia stake by selling 2,006 shares in the first quarter, which was a 19% decrease.