Peter Thiel sells off all Nvidia stock, stirring bubble fears (www.thestreet.com)

Billionaire investor Peter Thiel’s Thiel Macro LLC completely exited Nvidia in Q3, selling 537,742 shares (roughly 40% of the fund) and trimming the equity book from about $212M to $74.4M — an almost two‑thirds reduction with turnover above 80%. The filing shows full exits in Nvidia and utility Vistra, a huge cut to Tesla (–76%) and new positions in Microsoft (+49,000 shares, ~34% of the portfolio at an estimated $502.61 avg) and Apple (+79,181 shares, ~27% at $219.89). Thiel’s remaining concentrated trio is Tesla, Microsoft and Apple, a dramatic reweighting that reads less like routine rebalancing and more like a thematic pivot toward diversified, platform-heavy megacaps. The move is significant because it contrasts with Nvidia’s blistering fundamentals — a >$5 trillion market cap, quarterly sales rising from $39.3B to $46.7B driven by a 56% jump in data‑center revenue and some analysts projecting $1T annual sales by 2030 — and feeds bubble fears around AI hype. Thiel, a long‑time Silicon Valley player who’s warned the AI cycle is outpacing economics, appears to prefer slower, broader platform exposure (cloud, software, devices) over a pure-play chip rally. His exit, echoed by other skeptics (Bezos, Michael Burry, etc.), signals growing caution that the market may be pricing in multi‑year outcomes too quickly, and that durable economics may favor diversified platforms over current hardware exuberance.