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Home » George Soros loads up on AI chip makers Nvidia and AMD while selling Salesforce and Snowflake shares
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George Soros loads up on AI chip makers Nvidia and AMD while selling Salesforce and Snowflake shares

News RoomBy News RoomAugust 14, 20230 Views0
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Billionaire investor George Soros loaded up on shares of AI chip makers while dumping stakes of some large cloud software names, according to a Securities and Exchange Commission filing late Friday.

In the quarterly filing, Soros Fund Management reported a new 250,000-share position in Advanced Micro Devices Inc.
AMD,
+2.44%,
while acquiring 10,000 shares of Nvidia Corp.
NVDA,
+5.01%.
And Soros bought 10,000 shares of Microsoft Corp.
MSFT,
+0.66%,
which is heavily invested in OpenAI’s ChatGPT generative artificial intelligence.

Earlier in the summer, Soros wrote, “I am instinctively opposed to AI, but I don’t know how it can be stopped.“

Meanwhile, Soros shed his entire 170,000-shares stake in Salesforce Inc.
CRM,
+0.77%,
and he sold 38,500 shares in Snowflake Inc.
SNOW,
-0.64%.

Soros also increased his respective stakes in cybersecurity companies Cloudflare Inc.
NET,
+2.58%
by 200% to 600,000 shares, Okta Inc.
OKTA,
+2.39%
by 94% to 971,000 shares, and Rapid7 Inc.
RPD,
+1.32%
by 105% to 8.2 million shares.

Soros increased his stake in Amazon.com Inc.
AMZN,
+1.11%
by 8.9% to just over 769,000 shares, while cutting his stake in Walmart Inc.
WMT,
-0.25%.
His fund also shed positions in Netflix Inc.
NFLX,
+1.38%
and Goldman Sachs Group Inc.
GS,
-0.93%.

Read the full article here

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