Billionaire Stanley Druckenmiller Dumped Nvidia Last Year. Now He Just Sold All of His Shares of a Market-Beating Monster AI Stock That's Soared 1,500% Over the Past 3 Years.

Artificial intelligence (AI) stocks have surged in recent years as the AI boom picked up speed -- investors eagerly piled into these players with the hope that AI would become the next game-changing technology, much like the Internet, or moving much farther back in history, the steam engine. This is very possible, considering AI's ability to help companies gain in efficiency, problem solve, and even develop better products faster.This investing theme hasn't only appealed to small retail investors but also to billionaires. In fact, many got in on some of the top players early and have already locked in profit. A great example is Stanley Druckenmiller, who for 30 years at the helm of Duquesne Capital delivered an average annual gain of 30% and never had a money-losing year. So Druckenmiller has proved his ability to choose winning stocks over time.Last year, now at the head of the Duquesne Family office, the billionaire made a shocking move, selling all of his shares of AI chip leader Nvidia (NASDAQ: NVDA) as the stock soared. He originally bought the stock in the fourth quarter of 2022, so he scored a win on the investment, but at the time of Druckenmiller's sale, it was clear Nvidia still had a bright earnings growth story ahead. Even Druckenmiller expressed some disappointment at his own move, saying Nvidia stock had gotten expensive, but he believes in the company's potential and would consider buying the stock again.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool