Minotaur Global Opportunities Fund on NVIDIA Corporation
Thesis
Minotaur began buying Nvidia again in the second half of July after having reduced the broader AI-infrastructure cluster in June for concentration reasons. The fund argues that much of the violent technology selloff was driven by hedge-fund and retail deleveraging rather than a change in underlying earnings evidence. With the portfolio more diversified after the June de-concentration, Minotaur believes it has room to add selectively into weakness when the facts remain intact. Nvidia is therefore being treated as part of an improved risk-reward opportunity created by forced selling rather than as a new thematic bet.
“We have begun adding back, buying Micron and Nvidia in the second half of July.”
Key risks
- Continued deleveraging in crowded technology and AI-infrastructure positions
- Renewed portfolio concentration in the AI capital-spending cycle