"Tesla superfan" shareholder massively purchases 1 million shares of NVIDIA(NVDA.US), supporting AI as non-bubble!

According to Cailian Press, billionaire Leo KoGuan, who became one of Tesla’s (TSLA.US) largest individual shareholders a few years ago, announced on Tuesday that he purchased 1 million shares of NVIDIA (NVDA.US). NVIDIA closed at $180.05 on Tuesday, meaning the 71-year-old billionaire paid approximately $180 million. According to data, his net worth is $12.8 billion.

On Wednesday, KoGuan posted on X, saying, “I am convinced that AI is not a bubble; it is just the beginning. I plan to buy more NVIDIA shares soon to soothe the tense market.”

Despite growing skepticism towards Elon Musk and Tesla, including Tesla’s decision to offer its CEO a compensation package potentially worth up to $1 trillion, he stated that he “still mainly holds Tesla stock and U.S. Treasuries.” He refused to disclose how much Tesla stock he has sold over the years.

He wrote on social media, “I believe Tesla’s value in energy, cybersecurity, and Teslabot has not been fully reflected in the stock price. So, bold investors can still buy Tesla shares now in hopes of huge future wealth. Tesla is a leading global company in intelligent human-machine interaction.”

KoGuan was born in Indonesia, educated in New York, and currently resides in Singapore. He initially accumulated wealth through SHI International, a company based in Somerset, New Jersey, which he co-managed with his ex-wife. This enterprise software company was founded by him. He has stated that he started buying Tesla shares in 2019 and quickly built a large holding through stock options, increasing his stake multiple times.