Nvidia (NASDAQ: NVDA) has soared in the triple digits over the past year, thanks to its dominance in the artificial intelligence (AI) market. The company is the world's leading AI chipmaker, powering the crucial task of training AI models so they can then go on to solve complex problems. This has helped Nvidia's earnings soar and the stock find its spot in the portfolios of many billionaire investors.

But two billionaires recently cut their positions in Nvidia and, at the same time, placed bets on another AI stock instead. Steven Cohen, chief executive officer of Point72 Asset Management, decreased his holding of Nvidia shares by 66% in the fourth quarter of last year, while Israel Englander, CEO of Millennium Management, lowered his position by 45%.

You'll find top tech stocks among the biggest positions in these billionaires' funds, so it's clear they're focused on selecting tomorrow's AI winners. For example, two of the most heavily weighted tech stocks in Englander's fund are Microsoft and , companies that are pouring investment into AI.

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Source Fool.com