"Peter Thiel's hedge fund Thiel Macro LLC sold off its holdings in Nvidia Corp. during the third quarter, marking another retreat from the leading provider of artificial-intelligence chips. The fund offloaded its entire position of 537,742 shares in the world's premier AI chipmaker, which would have been worth about $100 million based on the closing price from Sept. 30. The Thiel Macro fund now counts Apple Inc., Microsoft Corp. and a reduced stake in Tesla Inc. as its main bets, according to a 13F filing."
"Thiel's move comes at a time of rising concerns about an AI investment bubble, which turned Nvidia into the world's most valuable company. Hedge fund manager Michael Burry has been perhaps the highest profile critic, disclosing bearish wagers against Nvidia and Palantir Technologies Inc. Japan's SoftBank Group Corp. also announced it sold off its shares in Nvidia in October for $5.83 billion, largely to help finance other AI investments."
Peter Thiel's Thiel Macro LLC sold its entire 537,742-share Nvidia position during the third quarter, a stake worth about $100 million. The fund now concentrates holdings in Apple, Microsoft and a reduced Tesla stake, per a 13F filing. The sale occurred amid concerns about an AI investment bubble as Nvidia became the world's most valuable company and breached a $5 trillion valuation. Investor sentiment on Nvidia was split among 909 hedge funds, with 161 increasing and 160 decreasing positions in the quarter. AI firms continue to raise and spend heavily while clear monetization models remain uncertain. Thiel has also backed Substrate, a US AI semiconductor startup.
Read at www.mercurynews.com
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