Billionaires Are Selling Nvidia and Buying These 2 Superb Artificial Intelligence (AI) Stocks Instead
From Nasdaq: 2024-08-08 04:37:00
Nvidia has seen massive growth in recent years, with hedge fund managers like Stanley Druckenmiller and Israel Englander taking profits by selling off some of their shares. As these managers move away from Nvidia, they are putting their money into other AI stocks like Microsoft and Meta Platforms.
Microsoft has positioned itself as a leader in the AI space, investing $10 billion in OpenAI and seeing significant growth in its Azure AI platform. Billionaire fund managers like Ole Andreas Halvorsen and Steven Cohen have been increasing their stakes in Microsoft, recognizing the company’s potential for growth in the AI sector.
Meta Platforms, formerly known as Facebook, is also focusing on AI development, with CEO Mark Zuckerberg aiming to make Meta the top AI company in the world. Investors like Chris Rokos and Ray Dalio have been buying shares of Meta Platforms, as the company integrates AI into its apps and advertising services for future revenue growth.
Both Microsoft and Meta Platforms offer significant prospects for growth in the AI sector, making them attractive investments for hedge fund managers and individual investors alike. As AI technology continues to evolve and expand, these companies are poised to capitalize on the growing demand for innovative solutions in the tech industry.
Read more at Nasdaq: Billionaires Are Selling Nvidia and Buying These 2 Superb Artificial Intelligence (AI) Stocks Instead