Peter Thiel’s hedge fund, Thiel Macro, liquidated its entire Nvidia position during Q3, offloading roughly 538,000 shares worth around $100m at quarter-end, according to a report by Reuters citing a regulatory filing released on Friday.
The move follows SoftBank’s disposal of its own Nvidia stake last week and comes as managers debate whether the AI trade – which has driven a historic collapse in market breadth – is entering a more fragile phase.
The back-to-back exits by two high-profile tech investors have amplified unease that hyperscaler and semiconductor valuations may have overshot fundamentals, putting pressure on Nvidia’s upcoming Q3 earnings to validate still-extreme expectations for AI demand.
The filing also shows Thiel Macro rotating out of the ‘Magnificent Seven’ more broadly. While the fund retains positions in Apple and Microsoft, it has cut its Tesla exposure, echoing a wider pattern: several hedge funds trimmed their big tech holdings in Q3 after aggressively adding in the spring.
