Increased Investment in Microsoft and Apple,
Famous venture capitalist Peter Thiel, known as the founder of PayPal, has reportedly sold all of his hedge fund’s shares in Nvidia, according to CNBC and Bloomberg on the 17th (local time).
Thiel’s hedge fund, Thiel Macro, disposed of approximately $94 million (about 137.4 billion won) worth of Nvidia shares during the last quarter.
According to market analysis firm InsiderScore, this was the largest financial movement within the fund in the third quarter.
US media highlighted this as the latest indication of growing caution toward AI-related companies in the capital market.
Previously, news that Japan’s SoftBank Group fully sold its Nvidia shares last month negatively impacted investor sentiment toward AI-related and tech stocks.
It was also confirmed that Peter Thiel’s fund sold over $40 million (about 5.85 billion won) in shares of Vistra, which is associated with AI data centers.
Additionally, the fund reduced Tesla holdings by more than 76%, CNBC reported.
However, as of the end of September, Tesla remains one of the top three holdings in the fund.
It appears that Thiel capitalized on the profit when Tesla’s stock soared by 40% during the third quarter. After the 4th quarter commenced, the stock fell by more than 9% up to the 14th.
During the third quarter, the fund increased its investments in Microsoft (MS) and Apple, investing $25.4 million (about 3.71 billion won) and $20.2 million (about 2.95 billion won) respectively.
mina@yna.co.kr