Renaissance Technologies increased its stake in Micron by over 50% in its latest 13F filing, adding nearly 1.81 million shares at around $520 million. Micron has been a top-performing tech stock, up 231% in the past six months. The move suggests a bullish outlook on memory prices and potential outsized returns.

Jim Simons, founder of Renaissance, revolutionized investing with data-driven strategies. The firm’s Medallion Fund averaged over 60% annually for 30 years. After Simons’ departure, Peter Brown now runs the $106 billion firm. Simons passed away in 2024 with an estimated net worth of $31 billion.

Micron’s fiscal 2025 data-center sales hit 56% of total sales with 52% gross margins. Q1 of fiscal 2026 saw sales soar to $13.64 billion, with a 56% gross margin and $5.24 billion in net income. Forecasts show significant price increases in DRAM and NAND, with Micron ramping up capex.

Renaissance cut its stake in Nvidia by nearly $887 million, reducing its position to $162.5 million by year-end. Nvidia reached an all-time high in late 2025, now trading at an eye-popping $4.5 trillion market cap. The move signals a shift in focus towards areas with more pricing power.

TheStreet reported on Renaissance’s Micron stake increase and Nvidia reduction, highlighting the fund’s strategic reallocation of capital. The move aligns with a bullish outlook on memory prices and a shift away from the AI trade. Renaissance’s data-driven approach continues to drive success in the market.

Read more at Yahoo Finance: Jim Simons’ Renaissance drops $520 million on surging tech stock