Billionaires Are Selling Nvidia Stock and Buying 2 Supercharged Artificial Intelligence (AI) Stocks Instead
Many investors see Nvidia (NASDAQ: NVDA) as the quintessential artificial intelligence (AI) stock because its chips provide the computing horsepower needed to train the most advanced AI systems, such as OpenAI's ChatGPT and 's full self-driving software.
However, some hedge fund billionaires sold Nvidia stock during the first quarter, while purchasing shares of Palantir Technologies (NYSE: PLTR) and/or Super Micro Computer (NASDAQ: SMCI), two supercharged AI stocks with year-to-date returns of 59% and 198%, respectively.
Trades made by Israel Englander are especially noteworthy because Millennium Management handily beat the S 500 over the last three years , and it ranks as the second-best performing hedge fund of all-time as measured by net gains since inception. Here's what investors should know about Palantir and Supermicro.
Source Fool.com
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