Hedge funds exit tech, media stocks at fastest pace in six months, Goldman Sachs says
Hedge funds exited U.S. tech and media stocks in the two weeks to February 21 at the fastest pace in six months, according to Goldman Sachs, just as Nvidia, one of the biggest tech firms by market capitalisation, readies to report earnings. Nvidia's profit report this week is seen as a bellwether of the burgeoning artificial intelligence (AI) industry. Speculators "aggressively" dumped both long and short positions in AI-related equipment, media, and communications equipment companies, according to a note sent to Goldman Sachs clients on Friday.