Reported 11 months ago
Several billionaire hedge fund managers like Philippe Laffont, Steven Schonfeld, Paul Tudor Jones, and Louis Bacon reduced their positions in Nvidia before its stock split and increased investments in Alphabet and Snowflake, both AI-related companies. While the move doesn't imply Nvidia is a poor investment, the focus on Alphabet's ad tech and cloud services, as well as Snowflake's cloud data warehousing and AI growth potential, suggests these AI stocks are gaining favor among wealthy investors.
Source: YAHOO