Billionaire Chase Coleman Just Bought a Stock Whose Artificial Intelligence (AI) Revenue Is Projected to Triple This Year

As an investor, keeping an eye on the investing habits of billionaire hedge fund managers can serve two purposes. First, it can spark new investment ideas by bringing attention to companies you may not have thought about. Second, it can help validate already-made investment decisions.Chase Coleman and his team at Tiger Global Management recently increased the hedge fund's stake in a popular way to invest in the artificial intelligence (AI) arms race: Taiwan Semiconductor Manufacturing (NYSE: TSM), commonly referred to as TSMC.In the third quarter, Tiger Global Management increased its stake in the business by nearly 20% and it now owns 3.63 million shares (2.8% of its overall portfolio) valued at $671 million. The fact that the hedge fund is still buying suggests there might still be time for others to buy what is considered an expensive stock by some financial metrics.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool