Billionaire Ken Griffin sold majority of Palantir shares, increased Nvidia holdings significantly

From Nasdaq: 2024-11-27 05:06:00

Wall Street investors are focusing on the Nov. 14 deadline to file Form 13F, offering insights into top money managers’ stock activities. Billionaire Ken Griffin of Citadel made significant moves in the third quarter, selling 91% of Palantir shares but increasing Nvidia holdings by 194%. Griffin’s actions reflect a strategic shift in AI stock investments.

Despite Palantir’s impressive growth, Griffin and other billionaire money managers, including Warren Buffett, are selling off shares due to high valuations. Palantir’s unique AI platforms and potential for recurring profitability make it attractive, but its current valuation may not be sustainable. Griffin’s shift towards Nvidia reflects a strategic focus on AI dominance in data centers.

Nvidia’s position as an AI colossus, with GPUs dominating data centers, has attracted institutional investors seeking to capitalize on its pricing power and gross margin growth. However, competitive pressures and historical trends in technology innovation could challenge Nvidia’s future performance. Investors are advised to carefully consider the risks and opportunities in the AI sector.

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Read more at Nasdaq: Billionaire Ken Griffin Sold 91% of Citadel’s Stake in Palantir and Nearly Tripled His Position in This Cutting-Edge Artificial Intelligence (AI) Stock