Billionaire Stanley Druckenmiller Made a Huge Mistake With Nvidia

Stanley Druckenmiller has shown he's a firm believer in the future of artificial intelligence (AI), as he's invested in several companies leading in this industry. Certain AI companies remain in his portfolio -- like Amazon -- but he's recently exited others.He sold two of 2024's biggest AI winners, Nvidia (NASDAQ: NVDA) and Palantir Technologies. He closed out his position in the former in the third quarter of last year and sold all of the latter in the first quarter of this year.Investors don't know the exact reason for the Palantir cut, though it's reasonable to guess valuation may have had something to do with it. The stock trades for 237x forward earnings estimates today, prompting some to say it's gotten too expensive and may be set for declines. Druckenmiller clearly cares about this element because he's said Nvidia's high valuation pushed him toward the exit door.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool