Billionaire Dan Loeb Sold Third Point's Entire Stake in Alphabet in Favor of One of Wall Street's Priciest (and High-Flying) Artificial Intelligence (AI) Stocks

Dan Loeb is swapping out one of the cheapest industry-leading AI stocks for another with well-defined competitive advantages and a nosebleed valuation.Year two of Wall Street's bull market rally didn't disappoint investors. When the curtain closed on 2024, the mature stock-driven Dow Jones Industrial Average, broad-based S&P 500, and growth-fueled Nasdaq Composite respectively ended the year higher by 13%, 23%, and 29%.These gains were powered by a confluence of factors, including excitement for stock split ...