Stanley Druckenmiller Just Made a Big Bet on IREN While Dumping Broadcom, Intel and Micron

Stanley Druckenmiller significantly repositioned his portfolio during the second quarter of 2026, reducing exposure to traditional semiconductor manufacturers while increasing investments in digital infrastructure and companies targeting artificial intelligence and high-performance computing. According to Duquesne Family Office’s latest 13F filing, its portfolio grew from roughly $3.37 billion in the first quarter to $5.21 billion at the end of the second quarter. The number of individual positions rose from 70 to 95. A notable new position was IREN Ltd., with Duquesne purchasing 87,100 shares valued at nearly $3.98 million. The firm also purchased more than 4 million shares of Bitdeer Technologies Group, initiated a 754,800-share position in Riot Platforms Inc. and added 314,150 shares of Hut 8 Corp. These purchases accompanied a broad exit from chipmakers. Duquesne completely liquidated its positions in Broadcom Inc., Intel Corp. and Micron Technology Inc. It also sold its holdings in Lattice Semiconductor Corp. and Coherent Corp., two chip-adjacent companies omitted from some early reports. The rotation was not absolute. Duquesne initiated a 72,900-share stake in Advanced Micro Devices Inc. and added 43,600 shares of Lam Research Corp. Nevertheless, the filing indicates a clear shift toward infrastructure supporting data centers and computing rather than legacy semiconductor exposure. Druckenmiller previously said he “screwed it up” by selling Nvidia Corp. too early after seeing “disturbingly heated” conditions across the technology sector. His latest moves suggest increased interest in infrastructure and crypto-mining operators expanding into artificial intelligence and high-performance computing, while also underscoring the risks of weaker valuation and price momentum. IREN shares gained 16.65% year to date, 130.92% over the last year and 4.36% over six months. The stock closed 1.56% lower at $44.06 on Friday before rising 3.58% in Monday premarket trading. Benzinga’s Edge Stock Rankings showed weak short-, medium- and long-term price trends and a poor value score.