Billionaire Ken Griffin Is Shifting His AI Bets. Here's What He's Buying and Selling.

Ken Griffin's Citadel trimmed positions in NVDA, AVGO, and MU while adding to AMZN and MSFT, signaling a rotation toward AI infrastructure providers showing concrete returns on capital deployment. The hedge fund's shift mirrors broader institutional preference for hyperscalers delivering measurable results from AI spending rather than pure semiconductor plays.

AMZN's AWS posted its fastest growth rate in four years, validating the company's cloud infrastructure buildout. MSFT continues generating robust free cash flow despite projected annual AI spending hitting $175 billion, demonstrating the software giant's ability to monetize its OpenAI partnership and Copilot rollout without sacrificing capital efficiency.

The trimming of NVDA, AVGO, and MU exposure suggests Citadel sees near-term upside capped in chip stocks after their recent run, even as AI demand remains structurally intact. Griffin's pivot toward the companies writing the checks—rather than cashing them—reflects growing scrutiny on whether massive AI infrastructure investments will translate to revenue growth and margin expansion.