Billionaire David Tepper Sells Nvidia Stock and Buys a Shocking Artificial Intelligence (AI) Stock Instead

Nvidia (NASDAQ: NVDA) has been the foundation of the artificial intelligence (AI) boom. Its graphics processing units power virtually all of the most advanced AI systems, and the company has a strong presence in adjacent markets like AI networking equipment and software development tools.However, billionaire David Tepper sold Nvidia in the third quarter and bought a shocking AI stock: electric utility Vistra (NYSE: VST). That was a bad pun, but Tepper is a good case study for investors because his hedge fund Appaloosa more than doubled the return of the S&P 500 (SNPINDEX: ^GSPC) in the last three years.Importantly, Tepper only sold 65,000 shares of Nvidia during the quarter, which reduced his position by just 9%. So it would be unfair to assume he lost confidence in the semiconductor company. But Vistra accounted for 2.2% of his portfolio as of Sept. 30, whereas Nvidia accounted for just 1.1%.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool