Billionaires David Tepper and Michael Platt Sold Nvidia Shares and Bought This AI Stock That’s Climbed 40,000% Since its IPO. | The Motley Fool

There are many paths to a billion-dollar portfolio, meaning billionaires don’t always agree when it comes to investment opportunities. Even if it’s clear that the area of artificial intelligence (AI) has a bright future, billionaire hedge fund managers may choose different paths to an AI win. One may pile into Nvidia (NVDA 1.56%), for example, while another sells shares of this AI chip giant.

But, from time to time, these investing experts see eye to eye and make similar moves. And this is exactly what happened in the fourth quarter of last year. Billionaires David Tepper of Appaloosa Management and Michael Platt of Bluecrest Capital Management each sold shares of Nvidia and bought an AI stock that’s soared 40,000% since its initial public offering. Let’s check out the details.

A look at 13F filings

So, first, a quick note on how we know about these billionaires’ moves. On a quarterly basis, managers of more than $100 million in stocks must report their activity to the Securities and Exchange Commission on Form 13F. These forms are available for the public to see, so we may get a glimpse into the latest moves of these investing experts.

Tepper and Platt, like many other billionaires, have been investing in AI stocks; Tepper may be the most aggressive here, though, as his top five holdings, from Alibaba to Meta Platforms, are heavily involved in AI. Platt’s biggest stock positions are in finance and energy. Both billionaires made two similar…