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Peter Thiel Is Reportedly Dumping Nvidia Stock Amid AI Bubble Jitters - Gizmodo
Billionaire and PayPal co-founder Peter Thiel is reportedly dumping his shares in Nvidia, amid growing concerns over an impending AI bubble burst. Thiel, who has a net worth of around $2.8 billion according to Forbes, is believed to have sold off his stake in the company for almost 700 million dollars. This decision comes at a time when there are fears of an AI boom leading to a bubble-like situation.
Recent studies have pointed towards a potential decline in the sector, leading to a decline in the value of shares. The AI industry, which is seeing rapid advancements in technology, has been a lucrative investment for several tech giants, including Google and Facebook. However, concerns have arisen over whether the industry can sustain its current growth rate, which could lead to a bubble-like scenario.
The decision by Peter Thiel to sell off his Nvidia shares could be seen as a precautionary measure. Nvidia is a major player in the AI industry, with its hardware and software solutions being utilized by several businesses and developers worldwide. The fear of the bubble bursting would naturally lead to a decline in the stock prices, making it a risky investment.
The Thiel move could also be seen as a vote of confidence in the impending bubble burst. His decision to sell off his Nvidia shares could prompt other investors to follow suit, leading to a decline in the value of shares. This could have a ripple effect on the entire industry, leading to a decline in research, development, and innovation in the field of AI.
The AI industry has been seeing rapid advancements in recent years, with new developments being made in the fields of machine learning, natural language processing and more. The rise of AI has been the talk of the tech town, with companies rushing to adopt the latest technology. However, the fear
Source: "artificial intelligence" - Google News, Link
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