Nvidia Stock Is Being Shunned by a Group of Ultra-Rich People: Why?

Nvidia shares fell 9% on September 3 alone as the sell-off gripped the US stock market.

Michael Sonnenfeldt, chairman of Tiger 21, said: “While Nvidia is the leader in AI right now, no growth lasts forever and competitors will catch up with Nvidia, leading to a market correction.”

More than half of Tiger 21 members, the ultra-rich club, do not hold any Nvidia shares. They also said they have no intention of investing in the company in the future. With 43% of members holding shares of the chip giant, most do not intend to buy more because they think the price is too high.