AMZN, GOOGL, META: Billionaire Investor Stanley Druckenmiller Buys Into AI Trade

Billionaire investor Stanley Druckenmiller has opened new positions in several mega-cap technology stocks that are closely associated with the artificial intelligence (AI) boom.

The latest 13F regulatory filing Druckenmiller’s Duquesne Family Office filed with the U.S. Securities and Exchange Commission (SEC) shows that he opened new positions in stocks such as Amazon (AMZN), Alphabet (GOOGL), and Meta Platforms (META) during this year’s third quarter.

The famed investor, who has famously never had a down year in more than 30 years of investing, also opened new positions in several energy providers that are powering AI data centers, including GE Vernova (GEV) and Vistra Corp. (VST), as well as chipmaker Arm Holdings (ARM).

Newly Public Stocks

In addition to buying into the AI trade, Druckenmiller also opened positions in several newly public companies such as ticket reseller StubHub (STUB) and blockchain lender Figure Technology Solutions (FIGR). Other new positions opened in the third quarter include retailer Dick’s Sporting Goods (DKS) and steelmaker Cleveland-Cliffs (CLF).

Additionally, Druckenmiller, who began his career working for George Soros, dramatically increased his bets on U.S. housing stocks, raising his position in Lennar Corp. (LEN) by 210% and lifting his holdings of D.R. Horton (DHI) stock by 165%. He also increased his position in Bank of America’s (BAC) stock by 189% during Q3. Druckenmiller sold very few stocks during the quarter with markets at all-time highs.

Is GOOGL Stock a Buy?

The stock of Alphabet has a consensus Strong Buy rating among 37 Wall Street analysts. That rating is based on 30 Buy and seven Hold recommendations issued in the last three months. The average GOOGL price target of $312.29 implies 9.30% upside from current levels.

Read more analyst ratings on GOOGL stock