Hedge funds took a diversified approach to technology investing in the first quarter as the sector built on its rally from 2024.
Hedge funds took a diversified approach to technology investing in the first quarter as the sector built on its 2024 rally. Technology stocks kicked off another strong year as artificial intelligence tailwinds and the rotation toward growth continued to run its course. The excitement lifted the tech-heavy Nasdaq Composite more than 9% in the first quarter. AI darling Nvidia rallied more than 82%, while Meta Platforms jumped 37% during that time.
mountain Shares this year Other famed investors also took profits in Nvidia following its run, including Altimeter Capital's Brad Gerstner. Stanley Druckenmiller told CNBC last month that he cut his Nvidia stake in late March and called AI a "little overhyped" in the short run. Apple caught renewed attention from Viking Global and cuts from Coatue and Warren Buffett's Berkshire Hathaway.
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