Lates News

Hedge fund founder Jonah Cheng once called Nvidia the best stock in his career. But he has now exited all positions in the company as he is no longer as confident in the future of the $3.5 trillion chip maker. Last year, the former UBS analyst's tech fund had a return rate of up to 42%, making him one of the investors who benefited from Nvidia's soaring stock price over the past decade. When he founded the Captain Global Fund in 2016, one of the first stocks he purchased was Nvidia, and he subsequently reinvested multiple times. Now, he is not as certain. Cheng sold his Nvidia stocks in the first quarter, citing concerns about delays related to the GB200 chassis. He pointed out inventory risks, unadjusted profit forecasts, competition from custom chips, and other reasons for avoiding the stock.