A Billionaire-Led Hedge Fund Is Gobbling Up This Speculative Artificial Intelligence Stock. Should You?
Billionaire stock portfolios can unearth top investment ideas. Most billionaire investors, after all, have superb track records when picking equities.
Point72, a global asset manager led by billionaire Steven A. Cohen, has been steadily buying shares of gallium nitride (GaN) power integrated circuit specialist Navitas Semiconductor Company (NASDAQ: NVTS) since the first quarter of 2023.
After adding another 4.12 million shares in the second quarter of 2024, Point72 now owns a 2.34% stake in the next-generation semiconductor company. This investment is intriguing for several reasons.
Source Fool.com