Hedge Fund Managers Bet Big on AI: Here’s What They’re Buying

Retail investors 🤝 hedgies 🤝 AI

Everyone is trying to find ways to invest in AI — including well-known hedge fund managers who have taken large positions in AI-related companies.

1/ Hedge fund billionaire Stanley Druckenmiller added two new positions with AI exposure:

• Microsoft (NASDAQ:MSFT) — now making up 9% of its $2.3B US stock portfolio.
• IQVIA Holdings (NYSE:IQV) — a $35B technology firm using AI to power the healthcare industry.

How much does he believe in AI? At a conference last week, Druckenmiller said, “AI is very, very real and could be every bit as impactful as the internet” (BBG).

2/ David Tepper’s Appaloosa Management picked up Nvidia (NASDAQ:NVDA), up nearly 100% this year thanks to its AI chips.

• The fund also bought Cathie Wood’s ARK Innovation ETF (NYSE:ARKK), which has exposure to several high-growth tech companies.

3/ Bill Ackman’s Pershing Square Capital added a new (and his only new buy) position in Alphabet (NASDAQ:GOOG) worth over $1B. Last week, Google revealed a range of AI tools that sent its stock higher.