Third Point Adds Hut 8, 4 Chip Bets as TSMC Stake Falls 35%
Updated
Updated · CNBC · May 18
Third Point Adds Hut 8, 4 Chip Bets as TSMC Stake Falls 35%
2 articles · Updated · CNBC · May 18
Third Point opened new first-quarter positions in Hut 8, ASML, Lam Research, KLA, Broadcom, the VanEck Semiconductor ETF and TransDigm, broadening its exposure to AI-linked chips, power demand and data-center infrastructure.
Hut 8 stood out among the additions: the bitcoin miner and energy-infrastructure company has more than doubled in 2026 as investors increasingly tie it to AI-related electricity and capacity needs.
The hedge fund funded part of that shift by trimming existing holdings, cutting Taiwan Semiconductor by 35%, CRH by 27% and Amazon by 10%, though Amazon still ranked as its largest equity position at March-end.
The filing underscores Dan Loeb's longer-term view that AI will increasingly separate corporate winners from losers, extending Third Point's evolution beyond its activist roots into broader equity, credit and venture investing.
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