Scottish Mortgage Investment Trust sold £866 million in Nvidia shares due to AI cost concerns.

Scottish Mortgage Investment Trust has reduced its stake in Nvidia, selling £866 million worth of shares amid concerns about the rising costs of artificial intelligence. Despite a significant return from Nvidia since 2016, the trust's chair, Justin Dowley, is addressing a 9.6% discount in its share price through discussions with shareholders about balancing buybacks and long-term investments. The trust's net asset value rose 1.9%, lagging behind broader market indices.

November 08, 2024
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