Stanley Druckenmiller ‘s Duquesne Family Office added a new bet on Alphabet last quarter, while trimming his favorite artificial intelligence play — Nvidia , according to its latest filing to the Securities and Exchange Commission. The family office built a $110 million stake in Alphabet, making it Druckenmiller’s seventh biggest holding at the end of the third quarter. The bet could complement his other big AI bets as Druckenmiller emerged as a bull on AI. The legendary investor, who has never had a down year in the markets, previously said AI could be a fruitful opportunity for investors , especially when the economy comes out of the next recession. After a stellar run in Nvidia shares, Druckenmiller trimmed his stake last quarter, but it’s still his family office’s biggest holding, with a value of some $380 million at the end of the latest quarter. Nvidia was one of his top picks to benefit from the AI boom, along with Microsoft . Druckenmiller first bought the stock in the fourth quarter of 2022. He recently said Nvidia could fare well even in a severe recession. The chip stock has more than tripled in 2023, suging 238%. Druckenmiller once managed George Soros’ Quantum Fund and shot to fame after helping make a $10 billion bet against the British pound in 1992. He later oversaw $12 billion as president of Duquesne Capital Management before closing his firm in 2010. He recently criticized what he called the federal government’s reckless spending, saying it will ultimately lead to tough choices in the future, like cutting Social Security. Druckenmiller believes the market will be “very challenged” in the current environment, and only disciplined stock pickers will be rewarded. The investor’s other moves during the quarter included adding new stakes in Vistra Energy , Seagate Technology and Broadcom .