Posted 4/8/2024, 8:35:09 AM
Palm Valley Fund Gains 1% in Q1, Questions Nvidia's AI Dominance Despite Popularity Among Hedge Funds
- Palm Valley Capital Fund gained 1.04% in Q1 2024, underperforming indexes
- Fund discussed Nvidia (NVDA) in letter, questioning if its dominance in AI chips is overvalued
- NVDA stock has gained 219% in last year, now has $2.2 trillion market cap
- 173 hedge funds owned NVDA last quarter, down from 180 the previous quarter
- Insider Monkey shared hedge fund investor letters and list of popular stocks among funds