Hedge funds shift bets to double down on Big Tech amid AI boom
NEW YORK, Aug 14 (Reuters) – Wall Street’s largest hedge funds, Bridgewater Associates, Tiger Global Management and Discovery Capital, increased their exposure to Big Tech in the second quarter amid a generational boom in the growth of artificial intelligence.
During the June quarter, hedge funds cut their exposure to laggards in industries like aerospace and defense, and consumer and retail, as part of a broader move back to momentum investing.
