Stan Druckenmiller, David Tepper Lead Family Offices Betting on AI

Billionaire investing titans Stanley Druckenmiller and David Tepper loaded up on stocks benefiting from the artificial intelligence boom during the first quarter.

Druckenmiller’s Duquesne Family Office increased its stake in Nvidia Corp., a chipmaker that’s been a key beneficiary of the increased interest in AI, according to the firm’s quarterly 13F filing. Nvidia’s stock is up 98% so far this year, making it one of the top performers in the S&P 500 Index.

Duquesne Family Office CEO Stanley Druckenmiller Interview

“AI is very, very real and could be every bit as impactful as the internet,” Druckenmiller said at the 2023 Sohn Investment Conference last week.

Duquesne Family Office added more than 208,000 shares of Nvidia during the first quarter, increasing the market value of the firm’s holding in the chipmaker to about $220 million.