The financial entity revealed that mutual investment funds continue to bet on the boom in artificial intelligence and the big technologies.
According to Goldman Sachs, Hedge funds set a new record for taking positions in tech stocks by market capitalizationaccording to data published on Friday by the financial entity.
The seven largest US stocks, together, now account for about 20% of the total net market value held by hedge funds tracked by Goldman Sachs.
These are the papers Microsoft, Apple, Alphabet, Meta, Amazon, Nvidia and Tesla that registered the highest percentage of exposure on August 24.
“Hedge funds continue to embrace mega-cap tech and the AI theme”Goldman Sachs’ top brokerage said in a note sent to a restricted group of clients and obtained by Reuters.
Last week, Nvidia reported record quarterly revenue buoyed by strong demand for its AI-focused chips and said the AI boom was showing momentum.
Source: Ambito
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