Billionaire Ken Griffin sold half his Broadcom stock, invested more in Nvidia for AI

From Nasdaq: 2024-11-24 05:10:00

Ken Griffin, successful investor, made $16 billion in 2022 with Citadel, the most profitable hedge fund ever. Griffin is bullish on generative AI, with his top five stock holdings all AI companies. He sold half his stake in Broadcom, investing in Nvidia instead, a key player in the AI revolution.

Broadcom, a gatekeeper in the AI ecosystem, saw 47% revenue growth to $13.1 billion in Q3. Wall Street is bullish on Broadcom, with 37 of 42 analysts rating it a buy. Griffin sold most of his Broadcom stake, increasing Nvidia holdings by 454%. Nvidia’s revenue soared 94% in Q3, driving its stock up 196% in the past year.

Nvidia, a key player in the AI revolution, saw revenue surge 94% in Q3. Griffin increased his stake in Nvidia, which is the second-largest holding in Citadel’s portfolio. Wall Street is bullish on Nvidia, with 60 of 64 analysts rating it a buy. Nvidia is guiding for 70% revenue growth in the current quarter.

Don’t miss out on Nvidia stock, a key player in the AI revolution. A “Double Down” stock recommendation could offer a lucrative opportunity for investors. Nvidia has historically shown significant returns for investors who got in early. Wall Street predicts continued growth for Nvidia in the coming years.

Danny Vena has positions in Nvidia, which is recommended by The Motley Fool. The views expressed in this article are the author’s own and do not necessarily reflect those of Nasdaq, Inc.



Read more at Nasdaq: Does Billionaire Ken Griffin Know Something Wall Street Doesn’t? The Citadel Chief Sold More than Half His Broadcom Stock and Is Piling Into Another Artificial Intelligence (AI) Stock-Split Stock Instead