Third Point's Dan Loeb said he built a "substantial" stake in Google parent Alphabet in the first quarter, adding that he's so bullish on artificial intelligence that almost half of his portfolio is somehow tied to the theme.
Loeb had just exited Alphabet in the fourth quarter following a big run in 2023.
At one point in 2023, he owned more than $500 million worth of Alphabet stock, one of his biggest holdings.
Alphabet, which also owns YouTube, has gained another 17% in 2024 after surging 58% last year.
In the first quarter, Third Point also added to its Taiwan Semi investment, initiated in May of last year.
Persons:
Dan Loeb, Loeb, " Loeb, TSMC, — CNBC's Scott Wapner
Organizations:
CNBC, Microsoft, Amazon, London Stock Exchange, Taiwan Semiconductor Manufacturing, YouTube, Taiwan Semi
Locations:
Taiwan