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In a move that's raising eyebrows across Wall Street,cardano price prediction 2030 Paul Wick - the seasoned portfolio manager behind Columbia Seligman's $13.5 billion technology fund - has quietly been scaling back his position in artificial intelligence darling Nvidia (NVDA). The disclosure came during a recent UBS investor forum in Singapore, where the three-decade tech investment veteran shared his tempered outlook on the semiconductor leader's growth trajectory.

"Our conviction has softened somewhat in recent weeks," Wick stated during the virtual presentation, though he declined to specify the exact percentage of shares liquidated. This cautious stance emerges just as Nvidia briefly claimed the title of world's most valuable company, with its stock price soaring 200% over twelve months amid unprecedented demand for its AI accelerators.

The fund manager drew historical parallels between Nvidia's current dominance and Cisco Systems' (CSCO) position during the late 1990s tech bubble. "What gives me pause is the revenue concentration," Wick explained, noting that approximately 60-70% of Nvidia's sales come from just ten major clients. This stands in stark contrast to diversified tech giants like Microsoft (MSFT) or Alphabet (GOOGL) that boast hundreds of thousands of customers across multiple business segments.

Current valuation metrics underscore Wick's concerns. Nvidia shares currently trade at 43 times forward earnings estimates - a premium valuation that exceeds nearly all components of the Philadelphia Semiconductor Index. The chipmaker's market capitalization briefly surpassed $3.4 trillion this week before retreating slightly.

Compounding these worries, Wick highlighted that major cloud providers - including Nvidia's own top customers - are actively developing proprietary AI chips to reduce reliance on third-party hardware. Tech behemoths like Google, Microsoft, and Meta Platforms (META) have all announced in-house processor initiatives that could gradually erode Nvidia's data center dominance.

Despite these headwinds, Nvidia remains a core holding in Wick's portfolio. The Columbia Seligman Technology & Information Fund has delivered top-tier performance, outperforming 97% of comparable funds over a three-year period according to Bloomberg analytics. This suggests the position trimming reflects portfolio rebalancing rather than a wholesale abandonment of the AI investment thesis.

The investment community remains divided on Nvidia's prospects. While bulls point to the company's technological lead in accelerated computing, skeptics like Research Affiliates' Rob Arnott have questioned whether current valuations properly account for potential competition and cyclical demand patterns in the semiconductor industry.