Billionaire investor Stanley Druckenmiller reveals he thinks AI is 'overhyped' ... trends now
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A billionaire investor has claimed artificial intelligence is 'overhyped' as he pulled back on a huge investment in a booming company.
Stanley Druckenmiller, worth over $6 billion, said he slashed his stocks in Nvidia in late March, despite the shares making a historic run over the last few years.
He decided to take the gains, adding the AI surge that's been seen since ChatGPT burst onto the scene in November 2022 could mean AI stocks are overvalued.
Hedge fund manager Stanley Druckenmiller, right, speaks while his wife Fiona Druckenmiller listens at the Langone Medical Center Violet Ball in New York on May 4, 2011. Druckenmiller had recently closed his hedge fund Duquesne Capital Management
Nvidia stock is up over 2,000 percent over the last five years, with a notable pickup in 2023 and 2024 as the AI boom continues
'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,' Druckenmiller said on CNBC show 'Squawk Box.'
Druckenmiller, who founded and runs the Duquesne Family Office, said he reduced his stake in Nvidia after 'the stock went from $150 to $900.'
He added that his investment strategy differs from Warren Buffett, who just recently announced his decision read more from dailymail.....
