Stanley Druckenmiller takes profits from Nvidia.

Legendary trader and former right-hand man of George Soros – Stanley Druckenmiller shared today that he has reduced his exposure to Nvidia and many other AI-related stocks after he was able to catch the whole AI rodeo, buying Nvidia at prices of $150.
-The euphoria around AI is perhaps already slightly exaggerated /in the short term/ and many of the opportunities we have identified have already been recognized and appreciated by the market,” says Drakenmiller.
-However, he remains optimistic about AI in the long term.

“We have cut this and many other positions. I just need a break. I’m not Warren Buffett; I haven’t owned a pair for 10 or 20 years, though I wish I was Warren Buffett.”

The well-known investor, who now runs the Duquesne Family Office, said he was introduced to Nvidia by his young partner in the fall of 2022, who believed the euphoria surrounding Blockchain would be many times greater than that surrounding Artificial Intelligence.

“I didn’t even know how to spell it,” Draken Miller said. “I bought Nvidia. Then a month later ChatGPT happened. Even an old man like me could understand what that meant, so I increased my position in Nvidia significantly.

“Artificial intelligence may be a little overdone now, but not enough in the long run. The big payoffs could happen in four to five years.”

Druckenmiller says that Microsoft and Alphabet are among his other positions that he is thinking of playing on the development of AI.

*NVIDIA, MICROSOFT AND ALPHABET SHARES CAN BE TRADED ON THE VARCHEV ABSOLUTE TRADER PLATFORM*