Tepper's fund dumped 3.73 million shares of Nvidia, or roughly $450 million worth of the top artificial intelligence (AI) stock, in Q2. That wasn't quite all of Appaloosa's stake. But it was more than 84% of it, leaving the fund with just 690,000 shares, representing roughly $90 million worth of the stock.

Based on these filings, it appears that a growing number of billionaires have been selling Nvidia (NASDAQ: NVDA) and buying Bitcoin (CRYPTO: BTC) instead. Let's take a closer look. The push into Bitcoin began in January as soon as the new spot Bitcoin exchange-traded funds (ETFs) rolled out.

Investors have flocked to Nvidia (NASDAQ: NVDA) over the past few years, thanks to its leading position in the high-growth market of artificial intelligence (AI) chips and triple-

Beijing is stepping up pressure on Chinese companies to buy locally produced artificial intelligence chips instead of Nvidia Corp. products, part of the nation’s effort to expand its semiconductor industry and counter US sanctions.

Shares of Nvidia (NVDA) closed down 2% on Sept. 27 after media reports surfaced that China’s government is discouraging domestic companies from

Nvidia does not sell its most powerful chips to customers in China due to restrictions by the U.S. government. Read more here.