Goldman Sachs made it very clear: selling chip stocks is a tactical take-profit, and the AI-themed positions haven't been reduced at all.

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MarsBitNews
Goldman Sachs says hedge funds are taking profits on the big rally in U.S. chip stocks, while maintaining overall exposure to AI themes.
Goldman Sachs traders say hedge funds sold semiconductor stocks after a sharp rise to lock in profits but still maintain exposure to AI themes.
Funds increased their short positions in hedging instruments, covering macro stocks/indices/ETFs, now reaching a 10-year high, indicating they are consolidating semiconductor exposure rather than diverging from AI themes.
Overall exposure to U.S. AI stocks remains close to record highs.
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