What's Going On With Nvidia Stock? Bill & Melinda Gates Foundation Buy $4M Stake

The Bill & Melinda Gates Foundation Trust, which manages the Gates Foundation's endowment, made its first-ever purchase of Nvidia Corp NVDA shares, acquiring approximately 9,200 shares valued at $4 million.

Despite its relatively small size, the investment in Nvidia ranked among the top holdings in the trust's portfolio, Business Insider cites from filings.

Cascade, the asset manager overseeing the Trust and Gates' wealth, also disclosed new stakes in major tech companies like Apple Inc AAPL, Meta Platforms Inc META, Amazon.com Inc AMZN, and Alphabet Inc GOOGGOOGL. 

Bridgewater Associates, founded by Ray Dalio, also established a stake in Nvidia last quarter, acquiring just over 48,000 shares valued at $21 million as of September's close. While this investment is relatively small compared to the firm's most prominent positions, including Procter & Gamble Co PG, Costco Wholesale Corp COST, and Coca-Cola Co KO, it underscores the growing interest in Nvidia's stock.

Nvidia's stock price has surged by approximately 240% this year, driven by optimism about the AI industry's growth and its impact on demand for graphics chips. 

In contrast, other high-profile investors took different approaches, with Soros Fund Management selling its entire $4 million stake in Nvidia, Renaissance Technologies reducing its bet by 34% to 1.2 million shares, and Stanley Druckenmiller's Duquesne Family Office trimming its position by about 8% to 875,000 shares.

Price Action: NVDA shares traded higher by 0.48% at $497.19 premarket Friday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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