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Billionaire Steven Cohen's Point72 Asset Management has completely divested from Super Micro Computer, selling all 45,066 shares. This decision comes amid concerns over the company's accounting practices and a report from Hindenburg Research alleging manipulation. Instead, Cohen has significantly increased his investment in Nvidia, a leader in AI hardware.
Point72's shift from Supermicro to Nvidia highlights the growing demand for AI technology and infrastructure. Nvidia's GPUs are in high demand, with backlogged orders for its flagship products, indicating a strong market position. The move reflects a strategic pivot towards companies that are expected to thrive in the evolving AI landscape.
• Cohen sold Supermicro shares due to accounting concerns and uncertainty.
• Point72 increased its stake in Nvidia, capitalizing on AI hardware demand.
AI refers to the simulation of human intelligence in machines, crucial for modern computing.
GPUs are specialized hardware used for rendering graphics and accelerating AI computations.
Nvidia is a leading company in AI hardware, known for its powerful GPUs that drive AI applications.
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