Nvidia completed a 10-for-1 stock split after the market closed on Friday, June 7. That split follows substantial price appreciation driven by enthusiasm surrounding artificial intelligence (AI). Nvidia shares are up more than 200% in the past year.

Yet, several billionaire hedge fund managers trimmed their positions in Nvidia during the first quarter, before the stock split was announced, and reinvested the money in other AI companies.

The trades made by those hedge fund managers do not mean Nvidia is a bad investment. All four fund managers still have exposure to the chipmaker, as do plenty of other wealthy investors. However, Alphabet and Snowflake warrant further consideration.

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Source Fool.com