Recently, several billionaire money managers have made significant moves, reducing their stakes in Nvidia while strategically building positions in other standout AI stocks.
Since the beginning of 2023, Nvidia's shares have surged an astounding 802%, adding nearly $2.9 trillion to its market value. This remarkable performance prompted a 10-for-1 stock split on June 7. Nvidia's dominance in high-compute data centers, fueled by its advanced graphics processing units (GPUs), has been a key driver of its success. Last year, Nvidia shipped 3.76 million of the 3.85 million AI-GPUs in the market, according to TechInsights. The soaring demand for Nvidia's AI-accelerated chips has driven up their prices and significantly boosted the company's adjusted gross margin.
However, despite Nvidia's impressive performance and first-mover advantages, notable billionaires Philippe Laffont of Coatue Management and Ken Griffin of Citadel Advisors sold over 2 million shares each in the first quarter. This has raised questions about their motivations, suggesting more than just profit-taking might be at play. With competition intensifying from companies like Advanced Micro Devices and Intel, Nvidia's growth trajectory faces challenges. Additionally, Nvidia's top customers are developing their own AI-GPUs, hinting at a gradual reduction in reliance on Nvidia's data center GPU architecture.
Ken Griffin & Philippe Laffont Biggest Bet For 2024, Buy Now To Turn Into Millionaire By 2025 End
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