Billionaire Investors Dump Nvidia, Embrace Amazon and HubSpot for AI Growth
Wednesday, 3 April 2024, 09:35
Wall Street Billionaires' Investments in AI Stocks
Several billionaire hedge fund managers sold shares in Nvidia but purchased Amazon and HubSpot in the fourth quarter.
Billionaires' Actions:
- Israel Englander: Sold 1.7 million Nvidia shares, reducing stake by 45%.
- Steven Cohen: Sold 1.1 million Nvidia shares, reducing stake by 66%.
- David Tepper: Sold 235,000 Nvidia shares, reducing stake by 23%.
Billionaires invested in Amazon and HubSpot, known for strong AI offerings that promise substantial shareholder value.
Amazon Growth Engines:
- E-commerce
- Digital Advertising
- Cloud Computing
Amazon's focus on AI development and strong financial results position them for robust growth.
HubSpot's CRM Software:
- Leader in Marketing Software
- Specializes in Customer Relationship Management
- Target Market: Small and Medium-Sized Businesses
HubSpot's AI investment and strong quarterly results make it an attractive growth stock for investors.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.