George Soros Pumps Money into QuantumScape Amid Looming Sales of Palantir Stake

George Soros Pumps Money into QuantumScape Amid Looming Sales of Palantir Stake

Soros Fund Management firm has a new holding of $280 million stake in QuantumScape Corp., according to Bloomberg. The George Soros’s firm also raised tech bets and exited its stake in sports betting company DraftKings Inc. 

  • Soros holding in Palantir Technologies jumped to $435 million at the end of the year, after the stock gained 148% during the quarter. 
  • The company said in November that it owned 18.46 million shares of Palantir, an investment it claims was made in 2012, and regretted the decision.
  • Soros claims it invested in Palantir when the negative social consequences of big data were less understood.
  • The company has sold all permitted shares in Palantir and would keep selling, even as a lockup for insiders to sell stock expires this week.
  • Over the years, Soros Fund investments, which include stakes in gun manufacturers and coal entities, have conflicted  with the company’s philanthropic philosophy.

Soros Fund held $$4.6 billion in U.S stocks at the end of the quarter, an $886 million increase from the prior quarterly period.

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