Billionaire venture capitalist Peter Thiel’s hedge fund, Thiel Macro LLC, exited its entire Nvidia (NVDA) position in the third quarter, according to a 13F filing.
The fund sold all 537,742 shares of the AI chipmaker—stock that would have been valued at roughly $100.3 million based on Nvidia’s Sept. 30 closing price.
According to the filing, Thiel Macro’s top positions now include Apple (AAPL) (79,181 shares), Microsoft (MSFT) (49,000 shares), and a trimmed stake in Tesla (TSLA) (65,000 shares vs. 272,613 at the end of Q2). Thiel has also backed Nvidia competitor Substrate and AI startups Mercor and Cognition AI.
The sale comes on the heels of SoftBank’s (OTCPK:SFTBY) (OTCPK:SFTBF) October move to offload its Nvidia stake for $5.83 billion, signaling a broader pullback as worries grow over a potential AI investment bubble.
Nvidia (NVDA) shares are up only 1.5% since the end of September. Bloomberg noted that 13F filings from 909 hedge funds show sentiment evenly divided: 161 increased their positions in Nvidia, while 160 reduced them during the third quarter.