From CNBC: 2024-05-07 07:39:19

Billionaire investor Stanley Druckenmiller revealed he cut his big bet in chipmaker Nvidia due to overdone AI boom in the short run. Despite the 66% stock increase this year, he remains bullish in the long term on AI’s potential, comparing it to the Internet’s impact. He previously held Microsoft and Alphabet.

Read more: Stanley Druckenmiller cut his Nvidia stake in late March, says AI may be a bit overhyped short term