Billionaire investor Stan Druckenmiller expects to own Nvidia for years, not months
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Billionaire investor Stan Druckenmiller said he plans to own Nvidia (NASDAQ:NVDA) for years, rather than months as it benefits from AI.
"If it's as big as I think it is, Nvidia is something we are going to want to own for at least two or three years, not for ten months, and maybe longer," Druckenmiller, founder of the Duquesne Family Office, said Wednesday at the Bloomberg Invest conference.
Nvidia (NVDA) shares have skyrocketed 161% this year as the stock has become the symbol for AI.
"I do believe, unlike crypto, AI is real," Druckenmiller said at the conference. "It could be as transformative as the Internet."
Druckenmiller reiterated some comments he made last month that Nvidia (NVDA) may not even drop in a potential recession.
"If staples can go up in price in a recession, why can't a company like Nvidia, if their orders and earnings go up 70% in a hard landing, which is what I think would probably would happen, it's not clear to me that Nvidia goes down, despite the lofty valuation level," Druckemiller said on Wednesday.