Stanley Druckenmiller exits Nvidia by late 2024, then invests in Broadcom, Intel, and Arm in Q1 2026 as AI shifts from training to inference workloads.

During Q1 2026, Druckenmiller's Duquesne Family Office bought 195,955 shares of Broadcom, 411,400 shares of Intel, and 106,700 shares of Arm, after fully exiting his Nvidia position by late 2024.

The shift reflects a bet that inference (the step where AI models run in real time to produce answers for users) rather than training will drive future AI compute spending, favoring custom silicon and CPUs that are more power-efficient and cost-effective than general-purpose GPUs for this workload.

Broadcom partners with cloud providers like Google Cloud on custom chips called tensor processing units (TPUs); Intel's Xeon 6 and x86 CPUs are becoming data center backbones; Arm's licensing model supports low-power chip designs — positioning all three as beneficiaries of hyperscaler and AI lab investments in inference infrastructure.