2 Billionaire Investors Are Selling Nvidia and Buying This Artificial Intelligence (AI) Stock Instead
It's no secret that artificial intelligence (AI) is the hottest game in town for investors. Much of the big gains for the stock market in 2023 and 2024 have been driven by surging interest in everything AI.
No company has been more at the forefront of the AI boom than Nvidia (NASDAQ: NVDA). The chipmaker's share price skyrocketed 239% last year and is up close to 75% this year. But is the enthusiasm about Nvidia beginning to fade? Maybe so. Two billionaire investors are selling Nvidia and buying another AI stock instead.
David Tepper is known to many as the owner of the Carolina Panthers. However, he amassed enough money to buy the NFL franchise by achieving tremendous success with the hedge fund he founded in 1993, Appaloosa Management. Today, Tepper's net worth stands at $20.6 billion.
Source Fool.com
