Alaska has boosted its Nvidia bet 50-fold in recent years, giving it a $142 million stake in June
wager by more than 50 times within the past seven years, giving it a stake worth $142 million at the end of June, a Markets Insider analysis shows.
The state's revenue department first reported a position in the microchip maker in the first quarter of 2017,show. Adjusted for Nvidia's 4-for-1 stock split in July 2021, it owned fewer than 7,000 shares at the time, worth less than $200,000. The agency ramped up its bet to a split-adjusted 281,000 shares, worth $16 million, by early 2018. The position peaked in size at the equivalent of 466,000 shares in the second quarter of 2020 — a $44 million stake then that would be worth $212 million today.
Alaskan officials have gradually pared the holding since then, to 337,000 shares worth $142 million at the end of June. But the state still counted the semiconductor giant's stock among its largest positions last quarter, which included $400 million-plus stakes in Apple and Microsoft. The state agency also invested in Tesla as early as the first quarter of 2017, SEC filings show. It commanded a $380 million stake in Elon Musk's electric-vehicle company as of June 30.
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