Advertisement
Australia markets closed
  • ALL ORDS

    7,974.80
    -27.70 (-0.35%)
     
  • ASX 200

    7,724.30
    -25.40 (-0.33%)
     
  • AUD/USD

    0.6618
    -0.0020 (-0.30%)
     
  • OIL

    78.49
    -0.13 (-0.17%)
     
  • GOLD

    2,348.40
    +30.40 (+1.31%)
     
  • Bitcoin AUD

    100,284.76
    -1,158.29 (-1.14%)
     
  • CMC Crypto 200

    1,403.32
    -14.56 (-1.03%)
     
  • AUD/EUR

    0.6178
    +0.0005 (+0.09%)
     
  • AUD/NZD

    1.0765
    +0.0012 (+0.12%)
     
  • NZX 50

    11,864.89
    -7.75 (-0.07%)
     
  • NASDAQ

    19,659.80
    +82.88 (+0.42%)
     
  • FTSE

    8,146.86
    -16.81 (-0.21%)
     
  • Dow Jones

    38,589.16
    -57.94 (-0.15%)
     
  • DAX

    18,002.02
    -263.66 (-1.44%)
     
  • Hang Seng

    17,941.78
    -170.85 (-0.94%)
     
  • NIKKEI 225

    38,814.56
    +94.09 (+0.24%)
     

Hedge Funds’ Exposure to Magnificent Seven at Record High as Nvidia Soars

(Bloomberg) -- Hedge funds’ exposure to US technology behemoths hit a record high following Nvidia Corp.’s estimate-thumping earnings report last week, according to Goldman Sachs Group Inc.’s prime brokerage.

Most Read from Bloomberg

The so-called Magnificent Seven companies — Nvidia, Apple Inc., Amazon.com Inc., Meta Platforms Inc., Alphabet Inc., Tesla Inc. and Microsoft Corp. — now account for about 20.7% of hedge funds’ total net exposure to US single stocks, the report showed.

ADVERTISEMENT

An index tracking the tech mega-caps has soared since Nvidia’s quarterly earnings once again impressed investors, feeding the frenzy around artificial intelligence. Nvidia alone has added about $470 billion in market capitalization since it released results late on Wednesday last week.

Read More: Nvidia Soars as Three-Day Earnings Rally Tops $470 Billion

--With assistance from Thyagu Adinarayan.

Most Read from Bloomberg Businessweek

©2024 Bloomberg L.P.