Billionaires Shift AI Bets From Nvidia to Baidu and Amazon
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Billionaire investors have been selling shares of Nvidia (NVDA), the leading AI chipmaker, perhaps seeing limited future growth potential.
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Billionaires have instead been buying shares of Baidu (BIDU), the "Google of China", which is growing through AI initiatives like autonomous driving and cloud services.
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Amazon (AMZN) is another top AI stock billionaires are buying, with AI powering growth in cloud computing, advertising, and other services.
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Baidu and Amazon have much lower valuations compared to Nvidia, which trades at dot-com era premiums that may not be justified.
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Baidu and Amazon offer billionaire investors exposure to AI with cheaper valuations and more diversified business models than Nvidia.