George Soros loads up on AI chip-makers Nvidia and AMD; sells Salesforce and Snowflake

08/12/2023

George Soros loads up on AI chip-makers Nvidia and AMD; sells Salesforce and Snowflake

EndTimesProphecyWatch.com

August 12, 2023

1–2 minutes

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NEWS REPORT:

Billionaire investor George Soros loaded up on AI chip makers while dumping stakes of some large cloud software names, according to a Securities and Exchange Commission filing late Friday.

In the quarterly filing, Soros Fund Management reported a new 250,000-share position in Advanced Micro Devices Inc. AMD, -2.41%, while acquiring 10,000 shares of Nvidia Corp. NVDA, -3.62%. And Soros bought 10,000 shares of Microsoft Corp. MSFT, -0.59%, which is heavily invested in OpenAI’s ChatGPT generative artificial intelligence.

Earlier in the summer, Soros wrote “I am instinctively opposed to AI, but I don’t know how it can be stopped.“

Meanwhile, Soros shed his entire 170,000 stake in Salesforce Inc. CRM, +0.22%, and 38,500 shares in Snowflake Inc. SNOW, -1.06%

Soros also increased his respective stakes in cybersecurity companies Cloudflare Inc. NET, +0.51% by 200% to 600,000 shares, Okta Inc. OKTA, -0.94% by 94% to 971,000 shares, and Rapid7 Inc. RPD, +7.16% by 105% to 8.2 million shares…Source – Read More!