Peter Thiel’s hedge fund sold its entire stake in Nvidia in the third quarter, according to a 13F filing.
Thiel Macro LLC sold all of its 537,742 shares in the chipmaker, per the filing, which were valued at about $85 million at the end of the second quarter.
Those shares would have been worth about $100 million at market close on September 30 — but it is unclear when Thiel’s fund offloaded its stake.
It comes hot on the heels of SoftBank disclosing that it sold all of its Nvidia shares during the same quarter.
Thiel Macro’s holding was relatively small when compared with Nvidia’s $4.6 trillion market capitalization and the $5.8 billion stake sold by SoftBank.
However, both sales come as some investors and tech leaders become increasingly wary of an AI bubble.
Nvidia, which provides advanced chips to power AI applications, has ridden the AI boom to become the world’s most valuable company, becoming the first to pass the $5 trillion milestone last month.
SoftBank said during its earnings call last week that its decision to divest had “nothing to do with Nvidia itself” but was a way to reallocate its funds toward OpenAI.
The share sales come as Nvidia is set to report its third-quarter earnings on Wednesday.
Dan Ives, a Wedbush analyst who has previously been bullish on the AI boom, said in a Monday X post that Nvidia is a “foundational piece” of the AI revolution and he expects it to “handily exceed Street estimates.”
Thiel Macro keeps the money moving
Thiel’s fund ended the third quarter holding stakes in Apple, Tesla, and Microsoft, the filing showed. Combined, those shares were worth more than $74 million as of September 30.
Other filings show that Thiel and his team have chopped and changed their US stock portfolio this year. In the first quarter, the fund exited Amazon and built stakes in Microsoft, Vistra, and ASML.
It exited Microsoft and ASML in the second quarter, then last quarter it disposed of Vistra, reinvested in Microsoft, and established a new position in Apple.
The value of Thiel Macro’s portfolio grew steadily from about $118 million at the end of last year to $153 million at the end of March, then $212 million at the end of June.
Only one stock has appeared in the fund’s last four quarterly disclosures: Tesla. Both Thiel and Tesla CEO Elon Musk helped cofound PayPal, and since then, the pair have partnered and collaborated several times.
Thiel’s fund pared its Tesla stake by 76% last quarter to 65,000 shares worth about $29 million as of September 30, after more than quadrupling its Tesla share count in the second quarter.
