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Nvidia (NASDAQ: NVDA) is significantly involved in the market for physical artificial intelligence (AI), which allows machines to interact with the real world. In the first quarter, notable hedge fund managers sold substantial shares: David Tepper of Appaloosa reduced his Nvidia holdings by 56% (selling 380,000 shares), while Steven Schonfeld of Schonfeld Strategic Advisors decreased his stake by 72% (selling 901,900 shares). In contrast, these managers increased their investments in Uber Technologies (NYSE: UBER), with Tepper adding 1.7 million shares (up 113%) and Schonfeld acquiring 50,400 shares (up 7%). Bill Ackman at Pershing Square Capital established a new position with 30.3 million shares as his largest holding.
Overall, data from recently filed Forms 13F indicated a 2% decline in large institutional investors holding Nvidia, whereas the number of investors in Uber grew by 8% in Q1. Nvidia controls over 90% of the data center GPU market and is forecasted to grow earnings at 28% annually through 2030. On the other hand, Uber commands a 76% share in the U.S. ride-sharing market and is actively participating in autonomous vehicle partnerships, with a projected growth rate of 25% in earnings over the next three years.
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