Business & Finance
Business and Finance
Business and Finance
Thu, November 28, 2024
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AMD and Alphabet: Billionaire Steve Cohen Loads Up on 2 Big AI Stocks
- AI is booming, providing an important pillar of support for the stock market's substantial year-to-date gains. Put into numerical terms, the
Billionaire investor Steve Cohen has significantly increased his investments in two major AI-focused companies, AMD and Alphabet, according to recent SEC filings. Cohen's Point72 Asset Management has boosted its stake in AMD by 1,700%, now holding 1.2 million shares, reflecting his confidence in the company's growth potential in the AI sector, particularly with its advancements in AI chip technology. Similarly, his firm has increased its Alphabet shares by 1,200%, now owning 2.3 million shares, driven by Alphabet's strategic positioning in AI through Google's various AI initiatives. This move underscores Cohen's belief in the transformative impact of AI across industries, betting on both hardware and software giants to lead the AI revolution.
Read the Full Business Insider Article at [ https://markets.businessinsider.com/news/stocks/amd-and-alphabet-billionaire-steve-cohen-loads-up-on-2-big-ai-stocks-1034071384 ]
Read the Full Business Insider Article at [ https://markets.businessinsider.com/news/stocks/amd-and-alphabet-billionaire-steve-cohen-loads-up-on-2-big-ai-stocks-1034071384 ]
