Griffin's Citadel Seeks AI Bets in Amazon and Microsoft

Citadel Advisors, the hedge fund founded by billionaire Ken Griffin, has made significant changes to its artificial intelligence (AI) strategy in recent quarters. According to a report from The Motley Fool, Citadel sold nearly 36% of its Nvidia stock and reduced its positions in Broadcom and Micron Technology.

However, Griffin has been bullish on two key AI stocks: Amazon and Microsoft. In the second quarter, he added to Citadel's position in these companies, purchasing 2.8 million shares of Amazon and 1.1 million shares of Microsoft.

AWS recorded its fastest growth in over four years, with revenue exceeding $200 billion in the quarter, up nearly 20% from a year ago. Meanwhile, Microsoft Azure topped $100 billion in revenue for the fiscal year, and the company reported free cash flow of $19.6 billion.