Nvidia's AI-driven stock surge continues with $5 billion gain for hedge fund.
TL;DR Summary
US hedge fund Jennison Associates has likely made a $5 billion gain on its nearly 1% stake in Nvidia, which is worth around $8.6 billion today. Nvidia's stock price has surged by about 160% this year as investors bet it will profit from the AI boom. Jennison Associates has bet heavily on Big Tech, owning over $7 billion of Microsoft stock at the end of March, nearly $7 billion of Apple, and more than $4 billion worth of both Amazon and Tesla.
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