The emergence of generative AI, which began with the launch of ChatGPT, has been the primary driver of the bull market and fed the ongoing rotation to tech stocks. Nvidia has ridden this AI wave to become the most valuable company in the world.
The growth in AI and the success of AI stocks have attracted a range of billionaire investors to the sector, and one AI stock in particular emerged as a popular pick among billionaires and hedge fund managers in the third quarter, according to recently released 13-F filings.
This post originally appeared at The Motley Fool.