2 Ultra-Popular Artificial Intelligence (AI) Stocks Billionaires Are Selling and the 1 AI Stock They Can’t Stop Buying

For investors, the quarterly release of Form 13Fs with the Securities and Exchange Commission (SEC) is like Christmas all over again.

A 13F provides investors with a detailed snapshot of what stocks Wall Street’s top money managers bought and sold in the latest quarter (in this instance, the fourth quarter). In other words, it offers an inside look at what stocks, industries, and trends are piquing the interest of the brightest asset managers.

There’s perhaps no bigger intrigue at the moment than knowing what Wall Street’s top money managers are doing with artificial intelligence (AI) stocks. AI, which involves using software and systems to handle tasks that would typically be overseen by humans, could add an estimated $15.7 trillion to global gross domestic product by 2030, according to a report released last year by PwC.

Based on the latest round of 13F filings, billionaire investors were eager to pare down their stakes in two ultra-popular AI stocks and simply couldn’t stop buying shares of another brand-name AI-inspired company.

Widely owned AI stock No. 1 that billionaires are decisively selling: Nvidia

The first artificial intelligence stock that prominent billionaire investors have been kicking to the curb is none other than the infrastructure backbone of the AI movement, Nvidia (NASDAQ: NVDA). During the December-ended quarter, eight billionaires reduced their fund’s respective stakes in this semiconductor giant, including (total shares sold in parenthesis):

• Israel Englander of Millennium Management (1,689,322 shares).

• Jeff Yass of Susquehanna International (1,170,611 shares).

• Steven Cohen of Point72 Asset Management (1,088,821 shares).

• David Tepper of Appaloosa Management (235,000 shares).

• Philippe Laffont of Coatue Management (218,839 shares).

• Chase Coleman of Tiger Global Management (142,900 shares).

• John Overdeck and David Siegel of Two Sigma Investments (30,663 shares).

If you’re wondering why these top investors would lighten their…