Druckenmiller Exits Nvidia, Pivots to TSMC and Microsoft in AI Bet

Billionaire investor Stanley Druckenmiller has liquidated Duquesne Family Office's entire stake in Nvidia (NVDA), marking a dramatic shift from what was once a cornerstone position. The move follows Nvidia's 200% surge in 2023, which propelled it toward becoming the world's most valuable company.

Duquesne's new capital allocations reveal a strategic pivot toward foundational AI infrastructure. The fund established positions in Taiwan Semiconductor Manufacturing (TSMC) and Microsoft (MSFT) last quarter—two trillion-dollar players with distinct roles in the AI ecosystem. TSMC, as Nvidia's exclusive chip fabricator, benefits directly from the AI boom without customer concentration risk.

TSMC's recent 44.4% revenue growth to $30 billion quarterly demonstrates the semiconductor foundry's pricing power amid insatiable demand for advanced chips. The transition reflects institutional recognition that AI's next phase will reward supply chain enablers and enterprise-scale cloud platforms over pure-play hardware vendors.