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Hedge Funds Trim AI Tech Holdings

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Major hedge funds including Tiger Global Management and Adage Capital Partners reduced their stakes in several leading artificial intelligence-linked companies during the final quarter of 2025, according to regulatory filings.

Tiger Global cut its holdings in Microsoft, Amazon and Nvidia, reflecting growing investor caution toward companies heavily investing in AI. Despite the reductions, Microsoft remains one of Tiger’s largest positions, valued at approximately $2.6 billion.

Similarly, Adage Capital trimmed its positions in Microsoft, Alphabet, Amazon and Nvidia, while increasing its stake in Oracle by around 19%, signaling a more selective approach to AI-related investments.

The adjustments come amid rising concerns that the strong valuations of leading tech firms may not be supported by future returns from massive AI spending. Investors have increasingly questioned whether long-term investments in AI infrastructure will deliver near-term financial results.

Elsewhere, SoftBank fully exited its Nvidia stake to free up capital for new investments, including its involvement in OpenAI. Quantitative hedge fund D.E. Shaw also reduced exposure to Nvidia, Micron and Meta, though it added to its Amazon and AMD holdings.

The moves suggest a shift toward cautious positioning as investors balance enthusiasm for AI growth with concerns over potential market overvaluation.

E-commerce Startup Rokt Valued at $3.5 Billion Following $335 Million Secondary Offering

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E-commerce technology firm Rokt has reached a valuation of $3.5 billion after securing $335 million in a secondary share offering. The offering was backed by prominent investors, including Tiger Global Management, Square Peg, Australia’s Barrenjoey, and SecondQuarter, with some of Rokt’s board members also participating in the deal.

Founded in 2012 in Australia, Rokt leverages artificial intelligence and machine learning to enhance the e-commerce experience by analyzing online shoppers’ behaviors and interactions with products. The company’s valuation had previously been $2.4 billion at the close of 2022, marking significant growth over the past year.

CEO and co-founder Bruce Buchanan expressed pride in the company’s progress, citing a remarkable 43% year-over-year revenue growth, which reached $600 million. Rokt has expanded globally, operating in approximately 15 markets across North America, Europe, and the Asia-Pacific region. Its clientele includes major companies like Uber, Macy’s, Live Nation, and AMC Theatres.

In a separate development, Rokt also announced a merger with customer data platform mParticle in a $300 million deal, further enhancing its growth trajectory.