Billionaires Bet on Amazon and Baidu Over Nvidia for AI Growth
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Billionaire investors have been selling shares of Nvidia (NVDA), the leading AI chipmaker, perhaps due to concerns about competition, regulation, and high valuation.
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Instead, billionaires have been buying shares of Baidu (BIDU), the Chinese search engine company growing its AI cloud and autonomous driving segments.
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Billionaires have also been purchasing Amazon (AMZN) stock, which utilizes AI across its e-commerce platform and high-margin AWS cloud computing business.
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Both Baidu and Amazon have much lower valuations compared to Nvidia, which may explain billionaires' interest.
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Names of specific billionaire investors buying and selling these AI stocks are listed, including Ken Griffin, Steven Cohen, and David Tepper.