1 Artificial Intelligence Growth Stock That Wall Street Billionaires Ken Griffin and Jim Simons Are Buying
Until recently, most people paid little attention to artificial intelligence (AI) because it worked behind the scenes. It was the enigmatic source of content recommendations, product suggestions, and personalized web experiences.
But ChatGPT recently thrust AI into the spotlight. The generative AI application allows users to interact directly with the technology, and its rapid adoption has whipped Wall Street into a frenzy. Many investors are buying AI stocks hand over fist.
For instance, the two wealthiest hedge fund managers in the world, Ken Griffin and Jim Simons, bought stock in Nvidia (NASDAQ: NVDA) in the first quarter. Griffin upped his stake in the chipmaker by 55%, making it his second largest holding (excluding options contracts), while Simons started a smaller position in the company. Given the financial success both money managers have achieved, investors would be wise to take a closer look at the stock.
Source Fool.com
