Billionaire David Shaw Is Selling Nvidia and Buying This Other Artificial Intelligence (AI) Chip Stock Instead

Every quarter, hedge funds and portfolio management firms with more than $100 million invested in the market are required to file a form 13F with the Securities and Exchange Commission. Analyzing these filings can be a helpful tool when trying to identify trends among "smart money" investors.One theme that I'm starting to notice is that some of Wall Street's highest profile billionaires are selling Nvidia (NASDAQ: NVDA) stock. D. E. Shaw, a hedge fund founded by computer scientist David Shaw, specializes in an investment strategy which leverages advanced mathematics and algorithms. This technique is often referred to as quantitative trading. Shaw's role at the fund is in more of a high-level capacity at this point as opposed to the day-to-day trading decisions.Below, I've outlined why D.E. Shaw's recent sale of Nvidia and purchase of another chip stock, Broadcom (NASDAQ: AVGO), may look like a savvy move in the long run.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool