Liquidate Nvidia! "The tech tycoon behind the White House" Peter Thiel significantly reduced his holdings in the third quarter, and newly bought Microsoft and Apple

As one of Silicon Valley's most influential investors, Peter Thiel's latest moves have once again sent a clear cautious signal to the fervent AI market.

According to the latest 13F filing submitted to the U.S. Securities and Exchange Commission (SEC), Thiel Macro LLC completely exited its investment in Nvidia in the third quarter. This move is particularly noteworthy as it comes at a time when Nvidia's market capitalization has surpassed $5 trillion, and Wall Street analysts generally regard it as an "unshakeable" leader. Additionally, Nvidia is set to release its latest financial report on November 19.

Alongside the liquidation, there was a complete reshaping of the investment portfolio. The fund significantly reduced its total holdings in U.S. stocks from approximately $212 million in the second quarter to just $74.4 million. Meanwhile, the fund established large new positions in Microsoft and Apple.

Portfolio Overhaul: Exiting AI Leader, Total Holdings Shrink by Two-Thirds

Thiel Macro LLC's operations in the third quarter can be described as aggressive. The documents show that the fund not only liquidated its entire position in Nvidia, which accounted for as much as 40% of its previous quarter's portfolio, selling all 537,700 shares, but also sold another significant holding, Vistra Energy, which accounted for 19% of the portfolio.

This move stands in stark contrast to Nvidia's strong fundamentals. Reports indicate that Nvidia's quarterly sales surged from $39.3 billion to $46.7 billion, with its data center business revenue growing by 56%. However, Thiel's choice is clearly based on a judgment of future valuations rather than current performance.

Overall, the fund's portfolio turnover rate exceeded 80%. The total holdings shrank sharply from about $212 million to $74.4 million. This series of actions appears more like a decisive strategic contraction rather than a gentle rebalancing.

Shifting to Tech Giants: New Positions in Microsoft and Apple, Reducing Tesla

While significantly reducing its holdings, Thiel Macro LLC concentrated the remaining funds on two other tech giants. The documents indicate that the fund made its first purchases of stocks in Microsoft and Apple.

In the third quarter, the fund established new positions by buying 49,000 shares of Microsoft and 79,181 shares of Apple. At the same time, the fund significantly reduced its long-held position in Tesla, selling 207,600 shares, a reduction of 76%.

As of the end of the third quarter, Thiel Macro LLC's portfolio consisted of only three stocks. Among them, the reduced Tesla remains the largest holding, accounting for about 38.8%; the newly purchased Microsoft and Apple follow closely, accounting for 34.1% and 27.1% of the portfolio, respectively.

This shift indicates that Thiel currently favors platform companies with diversified revenue sources, substantial cloud businesses, hardware ecosystems, and mature software services.

AI Bubble Theory Resurfaces: Thiel's Actions Align with His Words

Thiel's recent portfolio adjustment was not without warning. He had previously publicly cautioned that the hype cycle in the AI sector has far outpaced its actual economic benefits, comparing the current market frenzy to the internet bubble of 1999, when investors paid excessively for a technology that would take 15 to 20 years to fully realize The decision to "zero out" Nvidia's holdings is a strong reflection of this viewpoint. Although Thiel himself has praised Nvidia's leadership in the hardware sector, his investment decisions indicate that he believes the transformation brought by AI will be a "slow-burning" process. In his view, it is the platform companies that can provide lasting economic value, rather than pure chip manufacturers whose current valuations are already high.

Peter Thiel is not alone among notable figures expressing concerns about a potential AI bubble. Amazon founder Jeff Bezos has described the AI craze as an "industrial bubble"; Goldman Sachs CEO David Solomon has pointed out that the market may face a correction in the next 12 to 24 months. Additionally, legendary investor James Anderson has expressed "unease" about certain financing plans of Nvidia.

"The Tech Tycoon Behind the White House"

Peter Thiel holds a pivotal position in the tech and investment world, with his influence stemming from his founding roles in several disruptive tech companies. He is not only a co-founder of the payment giant PayPal and a former CEO, but also the first external investor in Facebook.

Moreover, he co-founded the currently highly regarded defense AI company Palantir and serves as its chairman, while also investing in a series of well-known companies such as SpaceX and Airbnb through his Founders Fund. This deep background spanning fintech, social media, and defense technology makes him a highly influential voice in both technology and capital markets