Billionaires Sell Nvidia While Buying Amazon on AI and Cloud Growth Bets
• Billionaire investors sold a large number of shares of Nvidia stock in Q4 2022, possibly due to concerns about incoming competition and loss of key customers.
• Nvidia faces threats from in-house AI chip development at key customers Microsoft, Meta, Amazon, and Alphabet.
• Export restrictions on high-powered AI chips to China also present headwinds for Nvidia.
• Billionaires bought millions of Amazon shares in Q4 2022, betting on the growth potential of AWS, advertising, and subscription services.
• Amazon appears undervalued relative to its future cash flow growth, making it attractive to long-term investors.