Altimeter's Brad Gerstner Builds Up Nvidia Stake After Trump Tariffs, Applauds Semiconductor Exception

Perhaps surprising to some investors, Altimeter Capital’s Brad Gerstner said Thursday that he’s buying shares of NVIDIA Corp NVDA amid the stock’s fallout in recent weeks.

Gerstner appeared on CNBC on Thursday following President Donald Trump‘s “Liberation Day” tariff announcement. The Indiana native expressed concern about the tariffs’ impact on the United States’ economy and a potential, resulting recession on the horizon.

Still, Gerstner, the founder and CEO of Altimeter, likes Nvidia at its current price point. He noted his fund’s already conservative cash position and puts against the NASDAQ index.

“We’re going from the bomb shelter to simply our safety position,” Gerstner said. “That means adding about 15% of net exposure, and we’re adding it in the areas that we believe are continuing to see sector growth. And as you know, the growth and demand for GPUs is off the charts.”

Gerstner also noted the exceptions laid out by Trump in his plan for semiconductors. He believes the impact of tariffs on the industry will be less than in other areas.

“One of the exceptions, a wise exception, is semiconductors. And I think one of the reasons semiconductors are being excepted is because for us to charge a tariff on our own chips, which are fabricated in Taiwan because they can’t be fabricated in the U.S.,…because we know if we increase the cost of chips that we design to our own companies, we’re only shooting ourselves,” he told CNBC.

Gerstner still expressed concern at the possibility of a recession, but is hopeful that Congress and the Trump Administration will take action to prevent such a result.

Shares of Nvidia fell over 7% on Thursday. The Santa Clara, California-based company’s shares are down over 25% in 2025.

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• Commerce Secretary Lutnick Says US Markets Will Perform ‘Extremely Well’ Long Term Despite Trump Tariff Selloff

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