Billionaire investor cuts Nvidia position, warns of AI ‘overhype'

Billionaire investor Stanley Druckenmiller, who heads the Duquesne Family Office, an investment firm overseeing a portfolio of over $3 billion, recently stated that AI is being overhyped. He mentioned reducing his stake in Nvidia (NASDAQ: NVDA) significantly.‘We did cut that and a lot of other positions in late March. I just need a break. We’ve had a hell of a run. A lot of what we recognized has become recognized by the marketplace now,’ he said in an interview with CNBC on May 7.During the same trading se ...