CRM - Billionaires Are Selling Nvidia Stock and Buying These 2 Artificial Intelligence (AI) Stocks Instead
2024-05-29 05:12:00 ET
So far, Nvidia has been one of the biggest winners of the artificial intelligence (AI) boom. Shares jumped 173% during the past year as the company reported unprecedented demand for its graphics processing units or GPUs, chips that power all of the most advanced AI systems.
However, some billionaire hedge fund managers trimmed their positions in Nvidia during the first quarter, while purchasing shares of two other AI stocks: Amazon (NASDAQ: AMZN) and Salesforce (NYSE: CRM) .
Investors need not interpret those trades to mean Nvidia is a poor investment. All three hedge fund managers still have a stake in the chipmaker. But Amazon and Salesforce warrant further consideration. Here are the important details.
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Billionaires Are Selling Nvidia Stock and Buying These 2 Artificial Intelligence (AI) Stocks Instead