GOOGL - Forget Nvidia: Billionaires Are Buying Up This Artificial Intelligence (AI) Stock Instead
2024-06-06 07:45:00 ET
Nvidia has been one of the best-performing stocks in the market since 2023. However, after the stellar run it has been on, some lofty expectations are built in. While Nvidia will likely hit these goals, investors may be better off looking at companies that don't have as high of expectations.
That's exactly what many billionaires have been doing in their hedge funds. Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) was a popular purchase among some top hedge funds (and the billionaires that run them). In the first quarter, some that increased their Alphabet positions were Ray Dalio's Bridgewater Associates, Chase Coleman's Tiger Global Management, and George Soros' Soros Fund Management.
Although Nvidia is a strong artificial intelligence (AI) pick, Alphabet is also a fantastic investment.
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Forget Nvidia: Billionaires Are Buying Up This Artificial Intelligence (AI) Stock Instead