Billionaires Are Selling Nvidia and Buying This Artificial Intelligence (AI) Stock Instead
Nvidia was the best-performing stock in the S 500 last year. Its share price surged 239% as artificial intelligence (AI) whipped Wall Street into a frenzy.
However, several hedge fund billionaires began diversifying away from Nvidia in the fourth quarter, while purchasing shares of Amazon (NASDAQ: AMZN).
The trades made by Englander and Cohen are especially noteworthy because they run two of the most successful hedge funds in history. Specifically, as of December 2023, Millennium Management ranked No. 2 and Point72 Asset Management ranked No. 13 in terms of net gains since inception, according to LCH Investments.
Source Fool.com
