Bloomberg says the trader who once rode overnight meme-coin rallies with billion-dollar market caps has rotated into Nvidia, SK Hynix and Sivers, though this month’s AI selloff has hurt part of the bet.
Crypto trader Rahul Patel has moved capital from the meme-coin market into AI chip stocks, a rotation Bloomberg says now includes Nvidia, SK Hynix and Sivers. The shift marks a move away from the highly volatile tokens he traded two years ago, when some meme coins reached billion-dollar market caps overnight, toward an equity theme tied to demand for AI hardware. That strategy has faced a setback this month as the AI sector sold off sharply, hitting his position in Sivers.