Billionaire Stanley Druckenmiller Sold Broadcom and Bought the Same Artificial Intelligence (AI) Stock Berkshire Piled $17 Billion Into

• Druckenmiller sold Broadcom, bought Alphabet in Q2. • AVGO valuation appears stretched; Alphabet offers full AI stack exposure. • Berkshire Hathaway also increased Alphabet stake significantly. Stanley Druckenmiller's Duquesne Family Office exited Broadcom (AVGO) and initiated a new Alphabet (GOOGL) position. The move suggests preference for the company aggressively investing in AI infrastructure over its chip supplier. Broadcom's P/E remains elevated versus the broader semiconductor sector, while Alphabet's vertical integration across TPUs, software, and services provides deeper AI exposure. Berkshire Hathaway also added $17 billion of Alphabet stock, reflecting similar conviction. The rotation highlights a bet on owning a complete AI stack rather than a single component supplier.