When billionaire Ray Dalio talks, investors listen. Founder of the hedge fund Bridgewater Associates, Dalio has made moves that have generated impressive returns over the years. An experienced professional, Dalio stepped away from the firm he founded and has handed off the reins to a new generation. Bridgewater continues to remain the world’s largest hedge fund with $136.5 billion in assets under management.
His firm has seen double-digit returns in 2025 so far. It might not always be a good idea to follow a billionaire’s moves, but there are times when they make smart choices, leading to impressive returns. Billionaire investors have access to research and bring decades of experience, making it worthwhile to consider their moves. In the second quarter this year, Bridgewater Associates made a complete exit from Chinese equities and moved to U.S. tech companies, reflecting its continued interest in innovation and structural growth.
Here are the tech stocks Ray Dalio is betting on.
Uber Technologies
Ray Dalio already held a position in Uber Technologies (NYSE:UBER) at the beginning of the year. He added additional shares worth $258.66 million, increasing his stake in the company by 531.1%. He began investing in the company in 2022 and hasn’t looked back. Exchanging hands for $92, Uber stock is up 47% this year and is on a rally.
A global leader in mobility and delivery, Uber is always looking for alternative revenue sources to increase revenue. At the end of the second quarter, the company had 180 million monthly active users, up from 156 million a year ago. It has a presence across 15,000 cities worldwide, and there’s still scope for growth. Its monthly active users are up 48%, and Uber holds 75% market share in the ride-hailing industry.
The company is making big moves in the autonomous driving market and connects customers to the rides offered by companies, aiming to achieve revenue growth as passengers choose self-driving cars. Uber has a high net margin and saw its operating income jump 82% year over year to $1.5 billion.
A highly profitable company, Uber is fairly valued and has massive upside potential.
Nvidia Corporation
Tech giant NVIDIA Corp. (NASDAQ:NVDA) needs no introduction. Dalio has made several transactions in Nvidia stock since 2022. He increased his position in the company through 2022 and 2024, later offloading millions of shares in 2024. He then purchased 4.36 million shares, increasing his stake in the company by 162%.
The demand for artificial intelligence (AI) is only going to grow, and with companies investing billions in the industry, Nvidia is set to keep growing. In a conference call, the management projected the global data center capital expenditure to touch $3 trillion to $4 trillion by 2030; this is a significant jump from the current spending of $600 billion.
The stock has had an impressive run and generated massive returns for investors. Up 32% year-to-date, Nvidia continues to rule the AI industry. It is exchanging hands for $183 as of writing, and there’s no stopping its momentum. The company is set to announce results on November 19, and we could see the stock going higher. It reported blowout results in the second quarter, and the management told investors to expect 50% year-over-year sales growth in this quarter.
Looking at the historical performance and Nvidia’s potential, the stock isn’t expensive.
Microsoft Corporation
Billionaire Ray Dalio increased his investment in tech firm Microsoft Corp. (NASDAQ:MSFT) by 111.9% and bought 906K shares. A strong player in the AI space, Microsoft has been integrating AI into its suite of products and has seen impressive results. It is also building custom AI models for enterprise clients.
Exchanging hands for $510, MSFT stock is up 22% year-to-date, while the business has reported double-digit growth. One of the most valuable companies in the world, Microsoft has achieved 13% revenue growth in the third quarter.
Its CoPilot could become a game changer for the business in the long term. Dalio invests in quality businesses and Microsoft is one of the top businesses to own. It has survived several market ups and downs and continues to remain a leader in the tech industry.
The company’s recent growth is driven by the cloud-based services and Azure remains the second-largest cloud infrastructure platform currently. Its aggressive investment in cloud, AI, mobile, and a stake in OpenAI may have squeezed the margins, but its growth rate is impressive. The company has enough liquidity to keep investing in business growth.
The stock is trading at a premium, but it is worth it.
Meta Platforms
Bridgewater Associates increased their stake in Meta Platforms Inc. (NASDAQ: META) by 381,459 shares this year. The fund has made several buy and sell transactions in the company since 2021, and Meta constitutes 2.19% of the portfolio. Exchanging hands for $715, the stock is up 19.46% year-to-date and 21% in a year.
The stock is on an upward momentum, and we could see a stock split in the near future. Meta has never split its stock, but the company is hitting high valuations, which could probably lead to a split.
AI has been a huge growth driver for the company. Meta owns a basket of social media apps, and it changes its algorithms to boost engagement and provide useful insights to advertisers. The profitable company has seen a steady rise in free cash flow, and the majority of its revenue is driven by advertising. With billions of daily users, Meta draws advertisers who are willing to pay a premium price to catch the users’ attention.
In the second quarter, it saw a 22% jump in revenue, driven by an increase in ad impressions. Further, the daily active users across its apps saw a 6% year-over-year rise to 3.48 billion. Meta also recently debuted its Meta Ray-Ban Display glasses, which could give a revenue boost in the coming quarters. Wall Street is bullish on the stock.
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