Reported 4 months ago
Hedge funds are selling software stocks and increasing exposure to firms benefiting from artificial intelligence (AI) expansion, as per Goldman Sachs Group Inc. report. The move is driven by the growing interest in AI processing power, with funds reducing net exposure to software to the lowest in over five years. While software stocks are experiencing a slump, semiconductor and AI-related stocks are gaining favor among hedge funds, with Nvidia leading in the chip sector.
Source: YAHOO