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Billionaire David Tepper Sold 97% of Appaloosa's Nvidia Stake and His Entire Position in AMD in Favor of This Trillion-Dollar Artificial Intelligence (AI) Stock
Appaloosa's billionaire chief appears to be shifting his focus within the artificial intelligence (AI) arena.
More than 30 years ago, the advent and proliferation of the internet represented a leap forward in growth potential for corporate America. Although it took years for businesses to turn this innovation into a powerful moneymaking tool, investors have been waiting a long time for the next game-changing trend to come along that can positively impact the corporate growth rate. The evolution of artificial intelligence (AI) looks to be this next leap forward.
Businesses are freely spending on the hardware and solutions necessary to gain a competitive edge within their respective industries. Based on estimates from PwC, global gross domestic product is expected to jump by 26% come 2030 solely because of AI.
Image source: Getty Images.
