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Billionaire Stanley Druckenmiller’s family office snapped up Nvidia and Microsoft stocks in the first quarter.
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Duquesne plowed about $220 million into the chipmaker and newly purchased Microsoft shares worth $210 million.
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The fresh investments signal Druckenmiller’s growing appetite for AI-focused stocks.
Billionaire investor Stanley Druckenmiller’s family office loaded up on Nvidia shares and made a new Microsoft investment last quarter, signaling a big push into artificial intelligence-related stocks.
Druckenmiller’s Duquesne Family Office bought 791,475 shares of Nvidia worth about $220 million, boosting its holding in the chipmaker from 582,915 shares worth $85.1 million as of end-2022, according to a 13F filing on Monday.
Duquesne’s new investment in Microsoft saw the company buy 729,040 shares worth $210 million in the first quarter.
Both Nvidia and Microsoft have dominated the AI scene this year, with the chipmaker earning a title as the “leading silicon AI enabler,” while the latter fueled the hype around artificial intelligence with a $10 billion investment in OpenAI – the firm behind the viral large language tool, ChatGPT.
The two tech giants’ ‘ shares have surged this year thanks to the AI boom, with Nvidia shares soaring 98% so far this year, while Microsoft stock rose about 30%.
Druckenmiller himself recently spoke on artificial intelligence – highlighting it as a game-changing technology – during the 2023 Sohn Investment Conference.
“AI is very, very real and could be every bit as impactful as the internet,” he said.
Read the original article on Business Insider
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