The world of investing is always evolving, and several billionaire money managers have recently made some significant changes to their portfolios. According to a report from The Motley Fool, billionaires Philippe Laffont, Stanley Druckenmiller, Chase Coleman, Stephen Mandel, and Larry Robbins have collectively invested about $1.8 billion into new assets, with a focus on AI-centered equities.
One of the key investments made by these investors is in US semiconductor and software giant Broadcom (AVGO). In the third quarter of last year, they purchased a total of 1,728,646 shares of Broadcom, with a total value of approximately $1.47 billion. This move comes as Broadcom’s AI revenue has seen a significant increase, leading to a 125% rise in the stock price over the past year.
In addition to Broadcom, the billionaire investors have also shown interest in Amazon and Taiwan Semiconductor Manufacturing (TSM). They have acquired roughly 1,749,613 shares of Amazon, valued at around $245 million, as the company’s cloud platform Amazon Web Services (AWS) continues to implement generative AI solutions for its customers. Furthermore, they have purchased 621,445 shares of TSM, worth about $62 million, as they bet on the world’s largest chip manufacturer.
These investments in artificial intelligence come at a time when analysts at PwC are forecasting a significant growth in the total addressable market for AI, which is projected to reach $15.7 trillion by 2030. As AI technology continues to revolutionize various industries, these billionaire investors are positioning themselves to capitalize on the opportunities presented by this transformative technology.
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