Hedge funds post best month in decades on AI chips
Hedge funds just had their best month in decades, thanks to the rush for AI hardware.
In April 2026, stock-picking funds jumped 6.5%, the strongest showing since 1999, while tech-focused hedge funds soared 10.3%.
The main driver? Everyone's chasing advanced semiconductors to power new AI tech.
Hedge funds pile into semiconductors
Big names like Point72 and Whale Rock Capital are leading the pack. Point72's main fund rose 4.5%, and its Turion fund (which focuses on AI) shot up 15%.
Whale Rock's publicly traded stock portfolio saw a huge 39% gain from smart bets on companies like SanDisk and SK hynix in April, while Seligman Tech Spectrum gained nearly 20% in April, its best month since launching in 2001.
Hedge funds have also loaded up on semiconductor stocks, now making up a fifth of their portfolios—up from just over 5% last year—as tech giants like Microsoft and Alphabet pour billions into building out their AI data centers.