Posted 3/21/2024, 9:06:00 AM
Billionaire investors hedge bets on AI leaders while diversifying portfolios beyond Nvidia
- 3 billionaire investors - Israel Englander, Jeff Yass, and Steven Cohen - sold over 1 million shares each of Nvidia stock in Q4 2022 while buying shares of other AI stocks
- Englander bought shares of Google, Apple, and Amazon - AI leaders that are developing their own AI chips and could pose a threat to Nvidia
- Yass purchased shares of Alibaba, Tesla, and Microsoft - established tech companies with core businesses that could withstand an AI bubble bursting
- Cohen snapped up Oracle, Western Digital, Dell, and Intuitive Surgical - companies outside core AI but that can benefit from AI proliferation
- While selling Nvidia, the investors focused on more diversified bets across digital ads, cloud computing, e-commerce, data storage and more