Thiel Dumped Nvidia. Now 72% Of His Portfolio Is Betting On This

Follow the bottleneck

The Q2 13Fs contain plenty of noise, but one shift stands out: some of the smartest money in technology is moving beyond the obvious AI winners and toward the physical inputs required to keep the buildout running.

Peter Thiel has gone from Nvidia to power. Tepper owns generators. Baker is leaning into physical infrastructure.