Nvidia(US:NVDA) Cai Jing Wang·2025-11-18 02:35Core Viewpoint - A notable investor, Peter Thiel, has completely exited his investment in Nvidia, raising concerns about the company's high valuation and the sustainability of the AI hype cycle [2][4]. Group 1: Investment Actions - Peter Thiel's Thiel Macro Fund sold approximately 537,742 shares of Nvidia, representing nearly 40% of its portfolio, with the sale valued at nearly $100 million based on Nvidia's average stock price during the period [2]. - Bridgewater Associates also reduced its Nvidia holdings by nearly 4.72 million shares, decreasing its stake by 65.3% to 2.51 million shares by the end of the third quarter [3]. - Thiel Macro Fund's overall portfolio turnover exceeded 80%, with total holdings dropping from $212 million to $74.4 million [4]. Group 2: New Investments - The Thiel Macro Fund significantly increased its positions in Microsoft and Apple, acquiring 49,000 shares of Microsoft and 79,181 shares of Apple during the third quarter [4]. - The fund completely divested from Vistra Energy Corp, selling 208,747 shares, and reduced its Tesla holdings from 272,613 shares to 65,000 shares, a reduction of 76% [4]. Group 3: Investment Philosophy - Thiel believes that while AI is transformative, it progresses slowly, and that platform-based software service companies provide sustainable economic growth rather than high-valuation "pure chip companies" [5]. - Microsoft and Apple are viewed as stronger investments due to their robust debt structures, solid free cash flow, and mature diversified business models, particularly in the integration of AI, cloud, and devices [5].