Billionaires Still Are Buying Nvidia Hand Over Fist. Should You Follow?

Investors have flocked to Nvidia (NASDAQ: NVDA) over the past few years, thanks to its leading position in the high-growth market of artificial intelligence (AI) chips and triple-digit growth in earnings. That's helped the stock soar in the quadruple digits over five years.However, Nvidia has lost momentum in recent times as some investors worried about tougher competition from rivals like Advanced Micro Devices or Intel, which have emphasized delivering better and better AI chips. Over the past few months, Nvidia shares have floundered, falling 8% from a peak in June.Nvidia hasn't lost its luster in the eyes of several billionaire investors, though. In the second quarter, many -- including Appaloosa Management's David Tepper, Millennium Management's Israel Englander, Point72 Asset Management's Steven Cohen, and Bridgewater Associates' Ray Dalio -- increased their positions in the company. And Viking Global Investors' Andreas Halvorsen opened a new position in the chip leader.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool