Nvidia (NASDAQ: NVDA) has been the hottest stock of the artificial intelligence (AI) boom, jumping more than 500% since the start of 2023, but some of the smartest investors now seem to be changing their tune on the skyrocketing stock.

Billionaire Stanley Druckenmiller, for example, piled into Nvidia when ChatGPT was first launched, but now the Duquesne Capital Management founder thinks the rally has run out of steam.

Druckenmiller, whose hedge fund generated an average annual return of 30% for nearly 30 years, dumped more than 70% of his stake in Nvidia in the first quarter, according to Duquesne's 13-F filing. The AI chip stock fell from his third-largest position to his seventh.

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Source Fool.com