TLDR
- Billionaire Chris Rokos sold his entire Palantir position during Q3 2025 while buying 3.5 million Nvidia shares worth $650 million
- Rokos Capital manages over $22 billion in assets and returned more than 20% during the first 10 months of 2025
- Nvidia reported Q3 revenue of $57 billion, up 62.5% year-over-year, beating estimates by $1.91 billion
- The Trump administration decided Monday to allow Nvidia to sell H200 chips to China, opening access to a $50 billion market
- Wall Street analysts rate Nvidia as a Strong Buy with an average price target of $258, suggesting 39% upside potential
Chris Rokos made a major move in the artificial intelligence sector during the third quarter of 2025. The billionaire hedge fund manager completely sold his position in Palantir Technologies while adding 3.5 million shares of Nvidia to his portfolio.
The purchase increased Rokos Capital’s Nvidia stake by over 200 percent. The position is now worth approximately $650 million at current market prices.
Rokos Capital currently manages more than $22 billion in assets across offices in London, New York, and Singapore. The firm employs over 350 people and has delivered strong performance in 2025.
During the first 10 months of this year, the fund generated returns exceeding 20 percent. This performance data comes from HFR hedge fund research.
Rokos first gained recognition working at Brevan Howard before starting his own firm in 2015. The macro specialist has built a reputation for identifying major market trends.
Nvidia Reports Strong Q3 Results
Nvidia’s recent financial performance appears to have influenced Rokos’s decision. The chip maker reported third quarter revenue of $57 billion in October.
This figure represented a 62.5 percent increase compared to the same period last year. Revenue came in $1.91 billion higher than Wall Street estimates.
Adjusted earnings per share reached $1.30, beating analyst expectations by four cents. The company also provided guidance for the fourth quarter.
Nvidia forecast revenue of $65 billion for Q4 with a two percent margin of error. Analysts had been expecting $61.84 billion for the period.
The company dominates the market for graphics processing units used in AI data centers. Nvidia provides not only chips but also software frameworks and networking equipment for AI infrastructure.
Jensen Huang leads Nvidia as chief executive officer. The company’s market value has grown to become the world’s largest under his leadership.
A May 2023 earnings report marked the beginning of Nvidia’s rapid ascent. The company has consistently exceeded expectations in subsequent quarters.
New China Policy Opens Market Access
The Trump administration announced Monday that Nvidia can sell H200 chips to China. This reverses previous restrictions on high-end AI chip sales to the country.
Nvidia estimates China represents a $50 billion total addressable market for graphics processing units. William Blair analyst Sebastien Naji sees potential benefits from the policy change.
The analyst noted that H200 sales in China could strengthen adoption of Nvidia’s CUDA software platform. China employs roughly half of the world’s AI researchers.
Naji rates Nvidia shares as Outperform with a fair value estimate of $245 per share. This price target implies 32 percent upside from current levels.
Wall Street analysts broadly agree with this positive outlook. Of 41 analysts covering the stock in the past three months, 39 rate it as a Buy.
Only two analysts remain neutral on the shares. The average price target among all analysts stands at $258 per share.
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