Billionaire Stanley Druckenmiller’s family office pumps a combined $430 million into Nvidia and Microsoft stocks in big, bold AI bets

Stanley Druckenmiller

Stanley Druckenmiller, founder of Duquesne Capital Management, speaks at the Sohn Investment Conference in New York, May 8, 2013.REUTERS/Brendan McDermid

  • Billionaire Stanley Druckenmiller’s family office snapped up Nvidia and Microsoft stocks in the first quarter.

  • Duquesne plowed about $220 million into the chipmaker and newly purchased Microsoft shares worth $210 million.

  • The fresh investments signal Druckenmiller’s growing appetite for AI-focused stocks.

Billionaire investor Stanley Druckenmiller’s family office loaded up on Nvidia shares and made a new Microsoft investment last quarter, signaling a big push into artificial intelligence-related stocks.

Druckenmiller’s Duquesne Family Office bought 791,475 shares of Nvidia worth about $220 million, boosting its holding in the chipmaker from 582,915 shares worth $85.1 million as of end-2022, according to a 13F filing on Monday.

Duquesne’s new investment in Microsoft saw the company buy 729,040 shares worth $210 million in the first quarter.

Both Nvidia and Microsoft have dominated the AI scene this year, with the chipmaker earning a title as the “leading silicon AI enabler,” while the latter fueled the hype around artificial intelligence with a $10 billion investment in OpenAI – the firm behind the viral large language tool, ChatGPT.

The two tech giants’ ‘ shares have surged this year thanks to the AI boom, with Nvidia shares soaring 98% so far this year, while Microsoft stock rose about 30%.

Druckenmiller himself recently spoke on artificial intelligence – highlighting it as a game-changing technology – during the 2023 Sohn Investment Conference.

“AI is very, very real and could be every bit as impactful as the internet,” he said.

Read the original article on Business Insider

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