Does he know something Wall Street doesn't? Billionaire Stanley Druckenmiller sells investors' darling Nvidia and invests in this AI titan
Stan Druckenmiller, the billionaire investor is currently not running after the herd and opting for other options than Nvidia stocks, according to The Motley Fool's report.
ET Year-end Special Reads
Two sectors that rose on India's business horizon in 2024
2025 outlook: Is it time for cautious optimism or rekindling animal spirits?
2024: Govt moves ahead with simultaneous polls plan; India holds largest democratic exercise
Nvidia's stock price keeps rising, Druckenmiller still isn't interested
Since 2022, Nvidia's stock price has surged by a whopping 895% and is projected to grow even further, looking at the major AI hype across the world, and the chipmaking giant is catering to just that through artificial intelligence integration into its latest GPUs. This is the primary stronghold of theirs, which is driving up demand, and increasing their stock price as well as market capitalization.
However, Druckenmiller, who has been a former hedge fund manager with notable repute, sold his entire stake in Nvidia in the third quarter, and has instead opted for Broadcom, which is another chipmaker, looking at competing with Nvidia by offering AI chips in lesser margins.
What is Druckenmiller hiding?
Such is Druckenmiller's Broadcom craze, that he has ended up making this AI-backed stock one of the top-15 in his overall holdings. This sudden activity by the billionaire and former market expert is driving Wall Street crazy, and questions are being raised as to whether Druckenmiller knows something that other US investors should be
Read more on economictimes.indiatimes.com
