Billionaire Investors Bet on Amazon Over Nvidia for Long-Term AI Growth
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Two billionaire investors, David Tepper and Chase Coleman, are selling some of their shares in AI chipmaker Nvidia.
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Tepper and Coleman bought more shares of Amazon in Q4 2023, betting on Amazon's AI and cloud computing platform AWS as a better long-term AI investment.
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Amazon is using AI internally across its businesses and believes it will drive tens of billions in revenue.
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Amazon's advertising and ecommerce businesses continue strong revenue growth.
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The author thinks Amazon remains an excellent long-term investment, even as Nvidia may be potentially overvalued.