Billionaire Ken Griffin Increases Stake in AI Leaders Meta Platforms and Amazon
The Magnificent Seven AI Giants
These players are making AI investment a priority. Stocks known as the 'Magnificent Seven' have attracted investors' attention in recent times -- and that includes the attention of some of the world's most successful investors. The perfect example is billionaire Ken Griffin, who, through his Citadel hedge fund, holds shares of all of these top technology stocks.
Reason to Pay Attention
There's reason to pay close attention to the stocks Griffin is buying because he clearly has made many winning bets -- so you could win by following some of his moves. As the best-performing hedge fund ever, Citadel has generated about $74 billion in gains over time for investors. And last year, Citadel brought in more than $8 billion, prompting LCH Investments to name the money manager among 2023's top performers.
Recent Investments
- More than doubled holdings in Meta Platforms (NASDAQ: META)
- Lifted position in Amazon (NASDAQ: AMZN) stock by 227%
AI Focus
Both Meta Platforms and Amazon are heavily investing in AI, with plans to lead in the AI market over time. Meta Platforms is integrating AI in its products and planning to open-source its large language model, while Amazon is leveraging AI for operational efficiency and in its cloud computing business.
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.