Billionaire Peter Thiel has made some shocking adjustments to his investment profile. The German-American entrepreneur has made a full exit from his position in Nvidia Corp, the “world leader in artificial intelligence computing,” according to his latest 13F filing released around November 15. The surprising shift away from the AI giant accompanied him slashing his holding in Tesla Inc.
Peter Thiel’s Nvidia exit detailed
His Thiel Macro LLC fund’s Form 13F filing indicated that the investor no longer had any shared in Nvidia as of September 30. As a result, his staggering departure fuelled the sale of more than 537,000 shares in the company from July to September. According to Investing.com’s analysis of the firm’s average stock price during this period, the shares’ sale price is estimated to be nearly $100 million.
Given the full-fledged Nvidia exit’s status, this shift has shrunk his fund’s equity book by nearly two-thirds. His holdings in the firm reportedly accounted for nearly 40% of his portfolio.
And so, the prominent entrepreneur’s Los Angeles-based hedge fund held a $212 million in long US stocks Q2, which significantly dropped to nearly $74.4 million in Q3.
Other Nvidia exits and major AI stock loss
Thiel‘s Nvidia exit follows some other stunning shifts linked to the company and the AI scene. Just days ago, Japanese tech giant Softbank Group Corp also announced that it had renounced the entirety of its stake in the firm. On top of that, Investor’s Business Daily analysis of data from S&P Global Market Intelligence and MarketSurge–reported days ago–showed a major downfall for AI stocks.
In what was reported as an astounding implosion on the AI scene, shared of the nearly 70 US-listed stocks in the Global X Artificial Intelligence & Technology ETF (AIQ) lost a cumulative $1.8 trillion in value since October 29.
Peter Thiel’s shares: Other stock movements observed in the 13F filing
In addition to letting go of his entire stake in Nvidia, Peter even exited his holdings in Vistra Energy Corp (208,747 shares). He even went on to slash his stake in Tesla Inc, bringing the number down from 272,613 shares to 65,000.
On the flip side, Thiel wasn’t entirely in the mood to drop stock weight. Beyond the cuts and headline-making departures, he bought 79,181 shares in Apple Inc and 49,000 shares in Microsoft Corporation.
The Palantir and PayPal co-founder has a net worth of $25.6 billion, according to Forbes. Having stepped up as the first big investor in Facebook back in the days, he eventually sold off most of his stake in it. Thiel finally left the social network board in 2022.
