According to a recent report, several billionaire money managers have made significant changes to their portfolios by investing approximately $1.8 billion in new assets.
Billionaires Philippe Laffont, Stanley Druckenmiller, Chase Coleman, Stephen Mandel, and Larry Robbins have been focusing on AI-centered equities, as reported by The Motley Fool.
These investors have shown particular interest in US semiconductor and software giant Broadcom (AVGO), acquiring a total of 1,728,646 shares valued at around $1.47 billion in the third quarter of the previous year.
With the firm experiencing a surge in AI revenue, the stock has seen a 125% increase over the past year.
Additionally, these wealthy individuals have invested in approximately 1,749,613 shares of Amazon, totaling about $245 million. This move comes as Amazon Web Services (AWS) integrates generative AI solutions for its customers.
Lastly, the billionaires have purchased 621,445 shares of Taiwan Semiconductor Manufacturing (TSM) worth around $62 million, showing confidence in the world’s largest chip manufacturer.
These new investments in artificial intelligence align with PwC analysts’ forecast of the AI market reaching $15.7 trillion by 2030, indicating a significant transformation in business and manufacturing globally.
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