Bridgewater just dumped the AI trade hard. Dalio's not playing around—92% of $MU gone, 96% of $TSM liquidated. This isn't trimming. This is exit velocity.
What they sold:
$MU -92% (~$1.57B) → Cycle peak fears, locking in gains before memory crashes
$AMZN -54% (~$563M) → E-commerce slowing, cloud margin squeeze
$MRVL -90.7% (~$527M) → Data center chip orders wobbling
$TSM -96.8% (~$498M) → Capex risks + geopolitical heat
$AMD -58.3% (~$438M) → Competition eating margins
What they bought:
$SPY +21.9% (+$714M) → Flight to broad market safety
$PCG +$99M → Boring California utility, dividend shield
$SHEL +$94M → Oil major, cash flow hedge
$ES +$86M (new) → Northeast utility, renewable pivot
$VOO +189% (+$206M) → Low-fee S&P tracker for macro defense
The message: Risk-off rotation into utilities, energy, and index ETFs. When the smartest macro fund on Earth dumps semiconductors this aggressively, you listen. AI bubble watch is on.
What they sold:
$MU -92% (~$1.57B) → Cycle peak fears, locking in gains before memory crashes
$AMZN -54% (~$563M) → E-commerce slowing, cloud margin squeeze
$MRVL -90.7% (~$527M) → Data center chip orders wobbling
$TSM -96.8% (~$498M) → Capex risks + geopolitical heat
$AMD -58.3% (~$438M) → Competition eating margins
What they bought:
$SPY +21.9% (+$714M) → Flight to broad market safety
$PCG +$99M → Boring California utility, dividend shield
$SHEL +$94M → Oil major, cash flow hedge
$ES +$86M (new) → Northeast utility, renewable pivot
$VOO +189% (+$206M) → Low-fee S&P tracker for macro defense
The message: Risk-off rotation into utilities, energy, and index ETFs. When the smartest macro fund on Earth dumps semiconductors this aggressively, you listen. AI bubble watch is on.