A trader works during the Fed rate announcement on the floor at the New York Stock Exchange (NYSE) in New York, U.S., March 20, 2019.Reuters/Brendan McDermid
Short sellers have lost more than $13 billion betting against a handful of artificial intelligence stocks this year.
Shares of Nvidia have soared more than 150% in 2023 and sparked an AI frenzy after its bullish forecast.
These are the five AI stocks that have caused a world of pain for bearish investors.
The frenzy for stocks with exposure to artificial intelligence have created dizzying gains for investors this year, as well as painful losses for short sellers.
According to data from S3 Partners Research, just five AI-related stocks have sparked more than $13 billion in mark-to-market losses for short sellers this year.
The losses are big when you consider that the short interest as a percentage of share float is in the low single digits for these stocks, meaning that much of the losses were triggered not by so many people being caught on the wrong side of the trade, but instead by such massive rallies in the stock prices.
These are the five AI stocks that have caused more than $13 billion in losses for short sellers this year, according to S3 Partners.
5. Taiwan Semiconductor
TSMC exhibition area at the World Semiconductor Congress 2022 in China.
TSMC exhibition area at the World Semiconductor Congress 2022 in China.CFOTO/Future Publishing via Getty Images
Year-to-date gain: 33.7%
Short seller losses: $690.7 million
4. Marvell Technology
Headquarters of Marvell Technologies in Santa Clara, California
Headquarters of Marvell TechnologiesSmith Collection/Gado/Getty Images
Year-to-date gain: 64.7%
Short seller losses: $723.4 million
Year-to-date gain: 42.4%
Short seller losses: $1.5 billion
2. Advanced Micro Devices
Lisa Su, CEO of AMD
Lisa Su, CEO of AMDAssociated Press
Year-to-date gain: 83.6%
Short seller losses: $2.0 billion
Jensen Huang, CEO of Nvidia, reacts to a video at his keynote address at CES in Las Vegas, Nevada, U.S. January 7,…