Billionaire fund manager drops $2.8 billion on Big Tech stocks

Billionaire fund manager Steven Cohen went all-in on tech, cannonballing in a space that’s been under serious duress of late. His hedge fund, Point72, disclosed a massive $2.8 billion in fresh positions across five AI giants, including $870 million in Taiwan Semiconductor(TSM),$510 million in Nvidia(NVDA), $492 million in Amazon (AMZN), $487 million in Equinix(EQIX), and $439 million in Broadcom (AVGO). The pattern doesn’t feel random, either. The massive new bets are on the AI supply chain, and in wha ...