Does Billionaire Ken Griffin Know Something Wall Street Doesn't? The Citadel Chief Sold More than 80% of His Broadcom Stock and Is Piling Into Another Artificial Intelligence (AI) Stock-Split Stock In

Ken Griffin runs one of the biggest hedge funds in the world.

One of the richest people in the world, Ken Griffin, has an estimated net worth of over $50 billion, according to Forbes, and that's due to his career in finance. The Harvard grad founded Citadel in 1990 and has grown the company into one of the largest hedge funds in the world and a significant market maker.

While the firm owns thousands of stocks, investors are always curious to see what the "smart money" on Wall Street is up to. In the second quarter of the year, Citadel dumped most of its stake in the custom chipmaker Broadcom ( AVGO -5.90% ) and loaded up on another popular artificial intelligence (AI) stock instead.

Selling Broadcom after it surged into Mag Seven territory

The " Magnificent Seven " have becom