Billionaire investor Stan Druckenmiller told listeners at the Bloomberg Investor Conference on Wednesday that he could own NVIDIA (NASDAQ:NVDA) for years, and he believes AI is here to stay.
The investor declared that artificial intelligence (AI) "could be as innovative as the internet," adding that if he is right about AI, he "could own Nvidia for two or three more years."
While he acknowledged that with the AI boom, there are lessons to be learned from the dotcom bubble, he added that even the bubble lasted two/two and a half years.
"Could Nvidia go down materially in the short term from any point? yes," said Druckenmiller. However, he stated that if AI is as big as he thinks it is, "Nvidia is something we are going to want to own for at least two or three years."
Moving away from the AI topic, Druckenmiller also called the current investing landscape challenging, commenting that he "doesn't see any fat pitches."