In the weeks before the Nvidia figures, hedge funds pounced on technology stocks and continued to build up their positions. But now the tide has turned – and this change happened very quickly.
Last week, the highlight of which was the NvidiaAfter the U.S. market closed on Wednesday, professional hedge fund managers dumped tech stocks four times in a row, according to data from U.S. Prime Brokerage unit Goldman Sachs
emerges. Sales also predominated on Thursday, the day after the Nvidia earnings – despite the AI chip company’s record numbers.
This includes the major US indices, including the technology-heavy ones Nasdaq, rose to record highs last week on optimism about artificial intelligence. And Nvidia posted the biggest one-day gain in Wall Street history on Thursday, with a $277 billion gain in market capitalization.
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