Billionaire Dan Loeb Exited Nvidia and Broadcom. Is He Calling the Top in AI Chips?

Dan Loeb's hedge fund Third Point completely exited its remaining common-share holdings in Nvidia and Broadcom during the second quarter, according to the firm's latest Form 13F filing. Third Point liquidated its positions of approximately 190,000 Nvidia shares and 50,000 Broadcom shares by June 30, while also selling off its stake in Meta Platforms. These exits occurred within a total reported U.S. equity portfolio valued at about $4.7 billion. Despite the notable divestment, market data indicates that the move represents individual portfolio construction and rebalancing rather than an industry-wide call calling a top in the artificial intelligence sector. Overall hedge fund ownership in Nvidia actually expanded over the quarter, rising from 275 to 285 funds, whereas Broadcom ownership saw a minor dip to 170 funds. Additionally, Nvidia's short interest remained subdued at just 1.23% of its public float (285.96 million shares), supported by strong data center demand and operational execution across the broader AI hardware supply chain.