Billionaire Ken Griffin Shifts Portfolio: Exits Broadcom, Enters Palantir Amid AI Boom
Citadel Advisors' Ken Griffin, whose hedge fund holds the record for cumulative net gains, made a striking portfolio adjustment last quarter. The firm sold 99% of its Broadcom stake while initiating a position in Palantir Technologies—a controversial AI play that's surged 2,700% since January 2023.
Broadcom's dominance in AI accelerators and hybrid cloud infrastructure through VMware contrasts sharply with Palantir's valuation concerns. Analysts peg Palantir's fair value at $165, 8% below current trading levels, yet Griffin's MOVE suggests confidence in its data analytics moat.
The divergence highlights a strategic bet: reducing exposure to established semiconductor infrastructure in favor of pure-play AI software, despite stretched valuations. Citadel's 20-percentage-point outperformance against the S&P 500 over three years lends weight to this contrarian pivot.
