Peter Thiel sells 100 million in Nvidia shares, AI bubble fears grow
On the eve of the accounts, the Macro hedge sold its stake as Softbank had already done: the decision fuels market fearsabout the possible tech bubble
Key points
Never before has Nvidia had to surprise. In view of the upcoming quarterly accounts, which the Californian giant will publish on Wednesday with the markets closed, the air around the company and the stocks viscerally linked to artificial intelligence, has become heavy. The fear of a bubble seems to be a fever ready to rise. And some moves in recent days seem to be heading in this direction.
The Visionary
In the last few hours, it has emerged that Peter Thiel's hedge fund, Thiel Macro, sold its entire stake in Nvidia during the third quarter, raising new fears about the formation of a bubble in the artificial intelligence sector. Thiel is considered one of Silicon Valley's visionaries. He co-founded (with Elon Musk) Pay Pal. He was then among the first investors in Facebook. And he set up Palantir. A CV, in short, closely linked to winning choices, in the world of innovation.
And now that its hedge has decided to sell its stake in Nvidia, it clearly does not go unnoticed.
According to the filing filed in recent weeks, the fund sold about 537,742 shares of the Santa Clara-based chip maker. Calculated at the closing price on 30 September, the stake would have been worth about $100 million.
Alarm bell
Thiel's decision is certainly a wake-up call for investors riding the AI wave. Especially since it comes just days after a similar move by SoftBank, which in turn sold part of its stake in Nvidia last week. A combination that has fuelled nervousness on Wall Street: the race for record valuations of technology stocks may have reached a tipping point, with the risk of putting pressure on the trillions of dollars poured into AI development so far.
