Several top hedge fund billionaires have sold significant shares of Nvidia in early 2025, while increasing their stakes in Uber Technologies, a company poised to benefit from the rising robotaxi market. This shift reflects changing investor confidence amid regulatory challenges and emerging opportunities in autonomous ride-sharing.
Nvidia Faces Export Restrictions and Competition
Nvidia is a leader in AI hardware and software, providing essential chips and platforms for autonomous vehicles and robots. Despite its dominant position—holding over 90% of the data center GPU market and a strong software ecosystem—some billionaires reduced their Nvidia holdings in Q1 2025.
David Tepper cut his Nvidia shares by 56%, and Steven Schonfeld reduced his stake by 72%. These sales likely reflect concerns about U.S. export controls limiting Nvidia’s ability to sell key H20 GPUs to China, which led to a $4.5 billion charge due to excess inventory, and worries about emerging competitors like DeepSeek.
Uber’s Ride-Sharing Platform Gains Investor Favor
Conversely, these investors increased their Uber shares significantly. Tepper doubled his Uber stake, adding 1.7 million shares, while Schonfeld and Bill Ackman also boosted their holdings.
Uber operates the largest U.S. ride-sharing platform with a 76% market share and is expanding its autonomous ride-sharing partnerships with companies like Waymo and WeRide in multiple cities worldwide. Uber’s valuation, at 15 times earnings, is considered attractive given its forecasted 25% annual earnings growth over the next three years.
Market Trends and Institutional Movements
Overall, the number of large institutional investors holding Nvidia dropped by 2% in Q1 2025, while those holding Uber rose by 8%. Nvidia’s stock has faced pressure from geopolitical tensions and regulatory hurdles, despite strong revenue growth and AI sector leadership.
Meanwhile, Uber’s positioning as a demand aggregator for robotaxis and its expanding service offerings have drawn increased institutional interest.
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