Some of Wall Street\u2019s best-known billionaire investors are reshuffling their bets on Chinese technology stocks amid the artificial-intelligence boom, with Stanley Druckenmiller returning to the market for the first time in more than two years with a stake in Baidu.<\/p>\n
Druckenmiller, an investor known for his decades-long track record of outsized returns, bought 88,200 of Baidu\u2019s American depositary receipts (ADRs) \u2013 US-traded securities that represent shares in the Chinese company \u2013 through his Duquesne Family Office firm in the second quarter, according to its latest 13F filing disclosed on Friday.<\/p>\n
The purchase, worth about US$10.1 million, marks the firm\u2019s first investment in a US-listed Chinese company since it exited Alibaba Group Holding in the fourth quarter of 2023. Alibaba owns the South China Morning Post.<\/p>\n
Appaloosa Management, the US hedge fund founded by billionaire investor David Tepper, also increased its bet on Baidu, nearly doubling its stake in the Chinese search-engine operator to 1.3 million ADRs worth about US$148 million during the quarter, its latest 13F filing showed.<\/p>\n
The increase in Baidu contrasted with Tepper\u2019s retreat from other Chinese internet companies. Appaloosa slashed its Alibaba holdings by 42 per cent and exited JD.com and PDD Holdings, a notable reversal from late 2024, when Tepper broadly increased his China exposure after pledging to buy \u201ceverything\u201d related to the country.<\/p>\n","protected":false},"excerpt":{"rendered":"Some of Wall Street\u2019s best-known billionaire investors are reshuffling their bets on Chinese technology stocks amid the artificial-intelligence…\n","protected":false},"author":2,"featured_media":143359,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[24,20995,2477,70607,25,2817,387,46032,70604,70605,36647,24534,36643,70606,52556,70603,701],"class_list":["post-143358","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ai","tag-ai","tag-ai-boom","tag-alibaba","tag-appaloosa-management","tag-artificial-intelligence","tag-baidu","tag-china","tag-david-tepper","tag-duquesne-family-office","tag-ernie","tag-howard-marks","tag-jd-com","tag-oaktree-capital-management","tag-pdd-holdings","tag-stanley-druckenmiller","tag-trip-com","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts\/143358","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/comments?post=143358"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts\/143358\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/media\/143359"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/media?parent=143358"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/categories?post=143358"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/tags?post=143358"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}