GOOGL - Billionaire Investor Dan Loeb Just Loaded Up on These 2 Magnificent Seven Artificial Intelligence (AI) Stocks
2024-05-24 08:30:00 ET
One of the best ways to get a glimpse into the minds of prominent investors is to look at their 13F filings . These forms are required by the Securities and Exchange Commission (SEC) and break down the buying and selling activity of large institutional money managers.
Recently, I parsed through the 13F of Third Point, a hedge fund started by billionaire investor Dan Loeb. Given the moves he is making, I would say that Loeb is bullish on artificial intelligence (AI). While this shouldn't come as a surprise, I was intrigued by the particular companies he's buying.
The AI narrative has been dominated by Microsoft and Nvidia so far. Nevertheless, Loeb made some splashy buys in two other members of the " Magnificent Seven, " recently buying 900,000 shares of Amazon (NASDAQ: AMZN) and 3 million shares of Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) .
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Billionaire Investor Dan Loeb Just Loaded Up on These 2 "Magnificent Seven" Artificial Intelligence (AI) Stocks