Hedge funds have been net sellers of global AI-related stocks for five straight trading days, according to Coin Bureau, which cited Goldman Sachs prime brokerage data. The reported selling has now offset all net buying in AI stocks accumulated since the start of 2025. Over the past two weeks, hedge funds sold about $20 billion worth of technology shares, with most of the reduction coming from trimming existing long positions rather than building new short bets. Goldman’s data showed that long selling was roughly 3.5 times the size of new AI short positioning. On Oct. 22, Goldman’s basket of hedge fund favorite holdings fell 4.2% in a single session, its worst performance since 2011. Separately, Steno Research, citing Morgan Stanley data, said hedge funds cut overall equity exposure by about 7.8%, the biggest drop since the bank began tracking the metric in 2016. At the same time, memory chip makers including Samsung, SK Hynix, Micron and SanDisk lost more than $700 billion in combined market value in less than two weeks, while chip stocks fell 15.6% in October versus a decline of less than 1% for the S&P 500.
Hedge funds were net sellers of global AI-related stocks for five consecutive trading days, according to Coin Bureau, which cited Goldman Sachs prime brokerage data. The cumulative selling has erased all of their net buying in AI shares since the start of 2025.
Goldman’s data showed that hedge funds sold about $20 billion in technology stocks over the past two weeks. Most of that move came from cutting existing long positions, with long sales running at roughly 3.5 times the size of new AI short bets.
Goldman basket posts worst day since 2011
On Oct. 22, Goldman’s basket of hedge fund favorite holdings dropped 4.2% in one day, marking its weakest performance since 2011.
Morgan Stanley data points to a broader pullback
Separately, Steno Research, citing Morgan Stanley data, said hedge funds reduced overall equity exposure by about 7.8%. It was the largest decline since the bank began tracking the figure in 2016.
Memory chip makers lose more than $700 billion in value
At the same time, memory chip companies including Samsung, SK Hynix, Micron and SanDisk shed more than $700 billion in combined market value in less than two weeks. Chip stocks were down 15.6% in October, while the S&P 500 fell by less than 1% over the same period.
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