Billionaire investor Stanley Druckenmiller has sold his Nvidia holdings and redeployed $13 billion from his Duquesne Family Office into Taiwan Semiconductor Manufacturing Co. and Microsoft. He believes the next phase of AI growth will favor chip foundries and cloud infrastructure rather than model developers. Analysts say this marks a strategic pivot from speculative AI plays toward companies controlling the hardware and compute pipelines. His move could influence broader institutional sentiment toward AI-supply-chain stocks.