Nvidia (NASDAQ: NVDA) shares have soared, resulting in a major boost for investors that got in on the shares early. And many billionaire investors have benefited — including Ken Griffin, chief executive of Citadel. Griffin initially bought Nvidia back in 2013, and as recently as late last year his fund held more than three million shares of the artificial intelligence (AI) chip giant.
But Griffin wasn’t a buyer of Nvidia in recent months. In fact, in the first quarter of this year, he reduced his position in Nvidia by 68% to about 1.1 million shares. And at the same time, he increased his holding of another AI stock by more than 500%. Does this mean that, like Griffin, you should forget Nvidia and bet on this AI player? Let’s find out.
Citadel’s track record
First, it’s important to note investors have a pretty good reason for following Griffin’s path. Since…
