Peter Thiel dumped Nvidia and invested $45 million into Microsoft and Apple—sending a strong signal about who will win the AI race

When Peter Thiel moves money, Silicon Valley pays attention. Toward the end of last year, he moved a lot of it—and the way he shifted around his fund might say a lot about how the AI race is shaping up.

In the third quarter of 2025, Thiel Macro LLC, the billionaire’s hedge fund, sold all 537,742 of its Nvidia shares (well over $100 million), according to regulatory filings. The shift marked one of Thiel’s most significant repositionings of the year: The stake in Nvidia had accounted for roughly 40% of the fund’s entire portfolio.

The move didn’t happen in a vacuum. Alongside the Nvidia sale, the fund took up new positions in Apple and Microsoft. Taken together, the trades cut Thiel Macro’s total U.S. equity exposure by more than half, from $212 million down to $74 million. Nvidia may be building AI’s future, but the platforms integrating AI with consumer products could prove the more durable bet. Companies like Nvidia have soared in value in the first…